Ondo InsurTech (LON:ONDO) Trading 11% Higher – Here’s Why

Ondo InsurTech Plc (LON:ONDO)’s share price traded up 11% during mid-day trading on Tuesday . The stock traded as high as GBX 28 ($0.37) and last traded at GBX 27.74 ($0.37). 4,367,723 shares changed hands during mid-day trading, an increase of 549% from the average session volume of 673,010 shares. The stock had previously closed at GBX 25 ($0.33).

Ondo InsurTech Trading Up 15.4%

The company’s 50 day moving average is GBX 23.67 and its 200-day moving average is GBX 30.55. The company has a market capitalization of £35.70 million, a P/E ratio of -9.73 and a beta of 0.85.

Insider Buying and Selling at Ondo InsurTech

In related news, insider Craig Foster sold 163,537 shares of the stock in a transaction dated Thursday, June 26th. The shares were sold at an average price of GBX 22 ($0.29), for a total transaction of £35,978.14 ($48,066.99). Also, insider Gregory (“Mark”) Mark Wood acquired 46,000 shares of the business’s stock in a transaction that occurred on Friday, June 27th. The shares were purchased at an average cost of GBX 22 ($0.29) per share, for a total transaction of £10,120 ($13,520.37). In the last quarter, insiders have purchased 49,025 shares of company stock valued at $1,087,221 and have sold 492,537 shares valued at $10,506,814. 25.01% of the stock is owned by corporate insiders.

Ondo InsurTech Company Profile

Ondo InsurTech Plc is a world-leading provider of claims prevention technology for home insurers. Ondo’s focus is on the global scale-up of LeakBot, technology that prevents water damage claims in homes. Water damage is the single biggest cause of home insurance claims, accounting for $17 billion annually in the USA and UK combined.