Ondo InsurTech (LON:ONDO) Shares Climb 11.7% – Here’s Why

Ondo InsurTech Plc (LON:ONDO) shot up 11.7% during trading on Tuesday. The stock traded as high as GBX 7 and last traded at GBX 6.70. 971,616 shares changed hands during mid-day trading, a decline of 45% from the average session volume of 1,765,550 shares. The stock had previously closed at GBX 6.

Ondo InsurTech Trading Up 1.4%

The firm has a market capitalization of £20.01 million, a price-to-earnings ratio of -1.59 and a beta of 0.21. The business has a 50-day moving average price of GBX 6.75 and a two-hundred day moving average price of GBX 7.02.

Ondo InsurTech (LON:ONDO) last issued its quarterly earnings data on Thursday, July 30th. The company reported GBX (510) EPS for the quarter. Ondo InsurTech had a positive return on equity of 90.48% and a negative net margin of 154.51%.

Insider Activity

In other Ondo InsurTech news, insider Greig Paterson sold 692,278 shares of the company’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of GBX 6, for a total value of £41,536.68. Also, insider Kevin Withington bought 282,468 shares of the stock in a transaction that occurred on Friday, July 10th. The stock was acquired at an average price of GBX 3 per share, for a total transaction of £8,474.04. Insiders acquired a total of 5,325,368 shares of company stock worth $16,008,242 over the last three months. Insiders own 7.76% 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.