Ondo InsurTech (LON:ONDO) Shares Climb 11.7% – What’s Next?

Ondo InsurTech Plc (LON:ONDO) shot up 11.7% during mid-day trading on Tuesday. The company traded as high as GBX 7 and last traded at GBX 6.70. Approximately 971,616 shares were traded during 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 Price Performance

The firm’s 50 day simple moving average is GBX 6.78 and its two-hundred day simple moving average is GBX 7.14. The firm has a market capitalization of £16.52 million, a P/E ratio of -1.31 and a beta of 0.21.

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

Insider Activity at Ondo InsurTech

In other Ondo InsurTech news, insider Greig Paterson sold 692,278 shares of Ondo InsurTech stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of GBX 6, for a total transaction of £41,536.68. Also, insider James Quin purchased 260,252 shares of the stock in a transaction dated Friday, July 10th. The stock was bought at an average cost of GBX 3 per share, with a total value of £7,807.56. Insiders purchased a total of 5,325,368 shares of company stock valued at $16,008,242 over the last ninety days. Insiders own 7.75% of the company’s stock.

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.