Ondo InsurTech (LON:ONDO) Trading Up 12.3% – Should You Buy?

Ondo InsurTech Plc (LON:ONDO)’s stock price rose 12.3% during trading on Thursday . The stock traded as high as GBX 8.50 and last traded at GBX 8.20. Approximately 3,118,644 shares were traded during mid-day trading, an increase of 61% from the average daily volume of 1,941,052 shares. The stock had previously closed at GBX 7.30.

Ondo InsurTech Stock Performance

The firm has a fifty day simple moving average of GBX 4.67 and a 200-day simple moving average of GBX 11.53. The company has a market capitalization of £11.99 million, a PE ratio of -1.33 and a beta of 0.85.

Insider Activity at Ondo InsurTech

In related news, insider Graham Bird bought 1,173,418 shares of the business’s stock in a transaction dated Friday, July 10th. The shares were acquired at an average price of GBX 3 per share, for a total transaction of £35,202.54. Also, insider Gregory (“Mark”) Mark Wood acquired 1,999,049 shares of the stock in a transaction that occurred on Friday, July 10th. The stock was purchased at an average cost of GBX 3 per share, with a total value of £59,971.47. Insiders acquired 5,370,658 shares of company stock worth $16,247,380 over the last 90 days. Company insiders own 9.20% of the company’s stock.

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.