Banxa (CVE:BNXA) Stock Price Up 30.1% - Here's What Happened

Banxa Holdings Inc. (CVE:BNXA - Get Free Report)'s share price traded up 30.1% during mid-day trading on Wednesday . The stock traded as high as C$1.61 and last traded at C$1.60. 622,219 shares traded hands during mid-day trading, an increase of 226% from the average session volume of 190,581 shares. The stock had previously closed at C$1.23.

Banxa Stock Performance

The company has a market cap of C$72.90 million, a P/E ratio of -8.00 and a beta of 2.75. The business's 50 day simple moving average is C$0.96 and its 200 day simple moving average is C$0.67. The company has a current ratio of 0.96, a quick ratio of 2.36 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 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.