Ondo InsurTech (LON:ONDO) Shares Up 12% – Here’s Why

Ondo InsurTech Plc (LON:ONDO)’s share price rose 12% during mid-day trading on Wednesday . The company traded as high as GBX 8 and last traded at GBX 7.84. 1,700,149 shares were traded during trading, a decline of 10% from the average session volume of 1,881,282 shares. The stock had previously closed at GBX 7.

Ondo InsurTech Stock Up 12.0%

The firm has a market capitalization of £11.75 million, a P/E ratio of -1.30 and a beta of 0.85. The company’s 50 day moving average is GBX 5.18 and its 200-day moving average is GBX 10.78.

Insider Activity

In other news, insider Craig Foster bought 988,639 shares of Ondo InsurTech stock in a transaction dated Friday, July 10th. The stock was bought at an average cost of GBX 3 per share, for a total transaction of £29,659.17. Also, insider Greig Paterson bought 612,278 shares of Ondo InsurTech stock in a transaction dated Friday, July 10th. The stock was purchased at an average price of GBX 3 per share, with a total value of £18,368.34. In the last ninety days, insiders have acquired 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.