Ondo InsurTech (LON:ONDO) Shares Up 9.1% – What’s Next?

Ondo InsurTech Plc (LON:ONDO)’s share price traded up 9.1% on Wednesday . The company traded as high as GBX 3.90 and last traded at GBX 3.60. 3,436,269 shares were traded during mid-day trading, an increase of 212% from the average session volume of 1,101,129 shares. The stock had previously closed at GBX 3.30.

Ondo InsurTech Price Performance

The firm has a market cap of £5.39 million, a PE ratio of -0.60 and a beta of 0.85. The company has a 50-day simple moving average of GBX 11.95 and a 200-day simple moving average of GBX 19.05.

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.