Banxa (CVE:BNXA) Trading 25.3% Higher – Should You Buy?

Banxa Holdings Inc. (CVE:BNXA)’s stock price was up 25.3% during trading on Friday . 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 Price Performance

The company’s 50 day simple moving average is C$0.74 and its two-hundred day simple moving average is C$0.56. The company has a debt-to-equity ratio of 194.64, a current ratio of 0.96 and a quick ratio of 2.36. The stock has a market capitalization of C$42.83 million, a P/E 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.