Banxa (CVE:BNXA) Trading Up 25.3% – Here’s What Happened

Banxa Holdings Inc. (CVE:BNXA)’s stock price was up 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 changed hands 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 Price Performance

The company’s 50-day simple moving average is C$0.74 and its 200 day simple moving average is 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 stock has a market capitalization of C$42.83 million, a price-to-earnings ratio of -4.70 and a beta of 2.75.

Banxa Company Profile

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.