Ondo InsurTech (LON:ONDO) Trading 12.3% Higher – Here’s What Happened

Ondo InsurTech Plc (LON:ONDO) shares rose 12.3% during trading on Thursday . The company traded as high as GBX 8.50 and last traded at GBX 8.20. 3,118,644 shares changed hands during trading, an increase of 61% from the average session volume of 1,941,052 shares. The stock had previously closed at GBX 7.30.

Ondo InsurTech Stock Performance

The business has a 50-day moving average of GBX 4.50 and a 200 day moving average of GBX 11.66. The stock has a market cap of £12.28 million, a PE ratio of -1.36 and a beta of 0.85.

Insider Buying and Selling at Ondo InsurTech

In other news, insider Greig Paterson acquired 612,278 shares of Ondo InsurTech stock in a transaction that occurred on Friday, July 10th. The shares were acquired at an average price of GBX 3 per share, with a total value of £18,368.34. Also, insider Graham Bird bought 1,173,418 shares of the firm’s stock in a transaction that occurred on Friday, July 10th. The shares were purchased at an average price of GBX 3 per share, for a total transaction of £35,202.54. Over the last quarter, insiders bought 5,370,658 shares of company stock valued at $16,247,380. Corporate insiders own 9.20% of the company’s stock.

About Ondo InsurTech

Ondo is a world leading provider of claims prevention technology for home insurers. Ondo’s focus is on the global scale-up of LeakBot – claims prevention technology that prevents water damage claims in houses. Water damage is the single biggest cause of home insurance claims, accounting for $17bn of claims every year in the USA and UK combined. LeakBot is a patented self-install solution that connects to the home wireless network and, if it detects a leak, notifies the customer via the LeakBot mobile app and provides access to a team of expert LeakBot engineers to ‘find and fix’ the problem.