Banxa (CVE:BNXA) Stock Price Up 25.3% – Should You Buy?

Banxa Holdings Inc. (CVE:BNXA)’s stock price rose 25.3% during mid-day trading on Saturday . The company traded as high as C$0.95 and last traded at C$0.94. Approximately 469,852 shares were traded during mid-day trading, an increase of 1,346% from the average daily volume of 32,490 shares. The stock had previously closed at C$0.75.

Banxa Stock Up 25.3 %

The firm has a fifty day moving average of C$0.74 and a 200-day moving average of C$0.56. The company has a quick ratio of 2.36, a current ratio of 0.96 and a debt-to-equity ratio of 194.64. The firm has a market cap of C$42.83 million, a P/E ratio of -4.70 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.