Banxa (CVE:BNXA) Stock Price Up 1.8% - Time to Buy?

Key Points

• Banxa Holdings Inc. stock increased by 1.8%, reaching a trading price of C$1.12 on Thursday, despite a significant decline in trading volume.
• The company, which operates as a payments service provider for cryptocurrency exchanges, has a market cap of C$51.06 million and a negative P/E ratio of -9.33.
• Banxa provides Web3 on-and-off ramp solutions for purchasing cryptocurrency and NFTs, connecting users to around 40 blockchain ecosystems.

Banxa Holdings Inc. (CVE:BNXA - ) shares rose 1.8% during trading on Thursday . The company traded as high as C$1.15 and last traded at C$1.12. Approximately 22,146 shares were traded during trading, a decline of 69% from the average daily volume of 72,220 shares. The stock had previously closed at C$1.10.

Banxa Price Performance

The stock has a market cap of C$51.06 million, a P/E ratio of -9.33 and a beta of 1.98. The firm has a 50-day moving average price of C$1.21 and a 200-day moving average price of C$0.99. The company has a debt-to-equity ratio of -209.35, a quick ratio of 2.36 and a current ratio of 0.81.

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.

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