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

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

Ondo InsurTech Stock Performance

The firm has a fifty day simple moving average of GBX 4.50 and a 200 day simple moving average of GBX 11.66. The company has a market cap of £12.28 million, a PE ratio of -1.36 and a beta of 0.85.

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, with a total value 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 cost of GBX 3 per share, for a total transaction of £8,474.04. Insiders have acquired a total of 5,370,658 shares of company stock valued at $16,247,380 in the last ninety days. 9.20% of the stock is owned by company insiders.

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.