Ondo InsurTech (LON:ONDO) Trading 11.5% Higher – Here’s Why

Ondo InsurTech Plc (LON:ONDO) shot up 11.5% during trading on Thursday . The stock traded as high as GBX 5.80 and last traded at GBX 5.80. 1,064,817 shares traded hands during trading, a decline of 40% from the average daily volume of 1,789,598 shares. The stock had previously closed at GBX 5.20.

Ondo InsurTech Trading Up 11.5%

The company’s 50 day moving average price is GBX 6.98 and its two-hundred day moving average price is GBX 7.68. The firm has a market cap of £14.30 million, a PE ratio of -1.14 and a beta of 0.21.

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

Insider Buying and Selling at Ondo InsurTech

In other Ondo InsurTech news, insider Kevin Withington bought 282,468 shares of the firm’s stock in a transaction that occurred on Friday, July 10th. The shares were bought at an average price of GBX 3 per share, with a total value of £8,474.04. Also, insider James Quin purchased 260,252 shares of the stock in a transaction that occurred on Friday, July 10th. The stock was acquired at an average cost of GBX 3 per share, for a total transaction of £7,807.56. Over the last quarter, insiders purchased 5,324,734 shares of company stock valued at $16,008,722. 7.75% of the stock is currently owned by corporate 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.