Banxa (CVE:BNXA) Trading Down 5.7%

Banxa Holdings Inc. (CVE:BNXA)’s share price dropped 5.7% during trading on Monday . The company traded as low as C$0.64 and last traded at C$0.66. Approximately 50,788 shares were traded during mid-day trading, an increase of 86% from the average daily volume of 27,348 shares. The stock had previously closed at C$0.70.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reduced their price objective on Banxa from C$4.00 to C$1.00 in a research note on Friday, January 5th.

Banxa Price Performance

The firm has a fifty day simple moving average of C$0.73 and a 200-day simple moving average of C$0.67. The company has a market capitalization of C$30.07 million, a P/E ratio of -3.30 and a beta of 3.07. The company has a quick ratio of 2.36, a current ratio of 0.86 and a debt-to-equity ratio of 194.64.

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 end users to purchase cryptocurrency and NFT's using fiat currency. The company was founded in 2014 and is headquartered in Melbourne, Australia.