Ondo InsurTech (LON:ONDO) Shares Down 43.4% – What’s Next?

Ondo InsurTech Plc (LON:ONDO) traded down 43.4% during trading on Tuesday . The stock traded as low as GBX 8.25 and last traded at GBX 8.35. 255,403 shares traded hands during trading, a decline of 55% from the average session volume of 569,051 shares. The stock had previously closed at GBX 14.75.

Ondo InsurTech Trading Down 6.0%

The company has a 50 day moving average price of GBX 15.20 and a 200 day moving average price of GBX 21.48. The company has a market capitalization of £5.84 million, a P/E ratio of -0.65 and a beta of 0.85.

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.