Banxa (CVE:BNXA) Trading 18.7% Higher – Here’s Why

Banxa Holdings Inc. (CVE:BNXA)’s share price traded up 18.7% during mid-day trading on Friday . The company traded as high as C$0.95 and last traded at C$0.89. 131,202 shares changed hands during mid-day trading, an increase of 322% from the average session volume of 31,091 shares. The stock had previously closed at C$0.75.

Banxa Stock Performance

The company has a 50 day simple moving average of C$0.74 and a 200 day simple 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 stock has a market cap 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.