Ondo InsurTech (LON:ONDO) Stock Price Down 6.9% – Should You Sell?

Ondo InsurTech Plc (LON:ONDO) shares were down 6.9% on Tuesday . The stock traded as low as GBX 7.50 and last traded at GBX 8.10. 1,500,783 shares traded hands during trading, a decline of 22% from the average session volume of 1,926,298 shares. The stock had previously closed at GBX 8.70.

Ondo InsurTech Stock Performance

The company has a market cap of £19.97 million, a PE ratio of -1.59 and a beta of 0.21. The company’s 50-day simple moving average is GBX 6.02 and its 200 day simple moving average is GBX 10.15.

Ondo InsurTech (LON:ONDO) last posted its quarterly earnings data on Thursday, July 30th. The company reported GBX (510) earnings per share for the quarter. Ondo InsurTech had a positive return on equity of 97.63% and a negative net margin of 151.44%.

Insider Activity

In related news, insider Gregory (“Mark”) Mark Wood purchased 1,999,049 shares of the business’s stock in a transaction on Friday, July 10th. The shares were bought at an average price of GBX 3 per share, for a total transaction of £59,971.47. Also, insider Kevin Withington purchased 282,468 shares of the business’s stock in a transaction on Friday, July 10th. The shares were bought at an average price of GBX 3 per share, for a total transaction of £8,474.04. Insiders acquired a total of 5,362,958 shares of company stock worth $16,216,580 over the last three months. Company insiders own 7.74% of the company’s stock.

Ondo InsurTech Company Profile

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.