Ondo InsurTech (LON:ONDO) Shares Up 12% – Here’s Why

Shares of Ondo InsurTech Plc (LON:ONDO) shot up 12% during mid-day trading on Wednesday . The stock traded as high as GBX 8 and last traded at GBX 7.84. Approximately 1,700,149 shares traded hands during mid-day trading, a decline of 10% from the average session volume of 1,881,282 shares. The stock had previously closed at GBX 7.

Ondo InsurTech Stock Up 12.0%

The stock’s 50-day simple moving average is GBX 5.18 and its 200 day simple moving average is GBX 10.78. The firm has a market cap of £11.75 million, a P/E ratio of -1.30 and a beta of 0.85.

Insider Buying and Selling

In other Ondo InsurTech news, insider Craig Foster bought 988,639 shares of the firm’s stock in a transaction that occurred on Friday, July 10th. The stock was acquired at an average price of GBX 3 per share, with a total value of £29,659.17. Also, insider Graham Bird bought 1,173,418 shares of the firm’s stock in a transaction that occurred on Friday, July 10th. The shares were acquired at an average cost of GBX 3 per share, with a total value of £35,202.54. Insiders acquired 5,370,658 shares of company stock worth $16,247,380 over the last three months. Insiders own 9.20% 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.