Banxa (CVE:BNXA) Trading 25.3% Higher – Still a Buy?

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

Banxa Price Performance

The company has a current ratio of 0.96, a quick ratio of 2.36 and a debt-to-equity ratio of 194.64. The stock’s fifty day moving average price is C$0.74 and its two-hundred day moving average price is C$0.56. The firm has a market capitalization of C$42.83 million, a price-to-earnings 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.