Ondo InsurTech (LON:ONDO) Shares Down 6.9% – Here’s What Happened

Shares of Ondo InsurTech Plc (LON:ONDO) traded down 6.9% during mid-day trading on Tuesday . The company traded as low as GBX 7.50 and last traded at GBX 8.10. 1,500,783 shares were traded 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 capitalization of £20.15 million, a price-to-earnings ratio of -1.60 and a beta of 0.21. The company has a 50 day moving average price of GBX 6.20 and a 200 day moving average price of GBX 10.02.

Ondo InsurTech (LON:ONDO) last posted its quarterly earnings results 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 Buying and Selling

In other Ondo InsurTech news, insider Craig Foster acquired 988,639 shares of the stock in a transaction on Friday, July 10th. The shares were purchased at an average price of GBX 3 per share, for a total transaction of £29,659.17. Also, insider Gregory (“Mark”) Mark Wood acquired 1,999,049 shares of the stock in a transaction on Friday, July 10th. The shares were acquired at an average price of GBX 3 per share, for a total transaction of £59,971.47. Insiders purchased 5,362,958 shares of company stock worth $16,216,580 over the last quarter. Corporate insiders own 7.74% 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.