Banxa (CVE:BNXA) Shares Up 23.6% - Should You Buy?

Banxa Holdings Inc. (CVE:BNXA - Get Free Report)'s stock price shot up 23.6% during trading on Friday . The company traded as high as C$1.41 and last traded at C$1.31. 353,340 shares traded hands during mid-day trading, an increase of 352% from the average session volume of 78,187 shares. The stock had previously closed at C$1.06.

Banxa Price Performance

The company has a quick ratio of 2.36, a current ratio of 0.81 and a debt-to-equity ratio of -209.35. The firm's fifty day moving average price is C$0.82 and its 200-day moving average price is C$0.88. The stock has a market cap of C$66.49 million, a P/E ratio of -30.40 and a beta of 2.75.

About Banxa

Banxa Holdings Inc operates as a payments service provider for the cryptocurrency exchanges in Australia, North America, and Europe. It provides Web3 on-and-off ramp solutions that allows users to purchase cryptocurrency and NFT's using fiat currency. The company's platform also provides connections to approximately 40 blockchain ecosystems allowing businesses and projects to list new tokens on existing blockchains or explore opportunities to list on new blockchains.