Ondo InsurTech (LON:ONDO) Shares Down 12.6% – Here’s What Happened

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

Ondo InsurTech Stock Down 12.6%

The firm’s 50 day simple moving average is GBX 4.48 and its two-hundred day simple moving average is GBX 13.02. The stock has a market capitalization of £9.17 million, a P/E ratio of -1.01 and a beta of 0.85.

Insider Activity at Ondo InsurTech

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 transaction of £37,900.68. Also, insider Graham Bird bought 34,000 shares of the business’s stock in a transaction on Thursday, June 25th. The shares were acquired at an average price of GBX 6 per share, with a total value of £2,040. Over the last ninety days, insiders bought 54,554 shares of company stock valued at $299,068. 9.08% of the stock is currently owned by corporate 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.