Ondo InsurTech (LON:ONDO) Trading Down 12.6% – Should You Sell?

Ondo InsurTech Plc (LON:ONDO) shares were down 12.6% on Monday . The company traded as low as GBX 5 and last traded at GBX 6.12. Approximately 5,454,963 shares changed hands during mid-day trading, an increase of 210% from the average session volume of 1,758,703 shares. The stock had previously closed at GBX 7.

Ondo InsurTech Price Performance

The company has a market cap of £10.19 million, a price-to-earnings ratio of -1.13 and a beta of 0.85. The stock has a 50 day simple moving average of GBX 4.14 and a two-hundred day simple moving average of GBX 12.80.

Insider Activity

In other news, insider Craig Foster sold 947,517 shares of the company’s stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of GBX 4, for a total value of £37,900.68. Also, insider Graham Bird acquired 34,000 shares of the business’s stock in a transaction that occurred on Thursday, June 25th. The shares were acquired at an average cost of GBX 6 per share, with a total value of £2,040. Insiders acquired a total of 54,554 shares of company stock worth $299,068 over the last quarter. 9.08% 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.