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

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

Ondo InsurTech Trading Up 11.7%

The business’s fifty day moving average is GBX 6.78 and its 200 day moving average is GBX 7.14. The company has a market cap of £16.52 million, a P/E ratio of -1.31 and a beta of 0.21.

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

Insider Buying and Selling

In other news, insider Kevin Withington acquired 282,468 shares of the stock in a transaction that occurred on Friday, July 10th. The shares were acquired at an average cost of GBX 3 per share, for a total transaction of £8,474.04. Also, insider Craig Foster acquired 988,639 shares of the company’s stock in a transaction on Friday, July 10th. The shares were acquired at an average cost of GBX 3 per share, for a total transaction of £29,659.17. Insiders have bought a total of 5,325,368 shares of company stock worth $16,008,242 in the last quarter. 7.75% of the stock is currently owned by company insiders.

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.