Ondo InsurTech (LON:ONDO) Stock Jumps 11.5% – Here’s What Happened

Shares of Ondo InsurTech Plc (LON:ONDO – Get Free Report) rose 11.5% on Thursday. The stock traded as high as GBX 5.80 and last traded at GBX 5.80. Approximately 1,064,817 shares were traded during trading, a decline of 40% from the average session volume of 1,789,598 shares. The stock had previously closed at GBX 5.20.

Ondo InsurTech Price Performance

The company’s 50 day simple moving average is GBX 6.90 and its 200 day simple moving average is GBX 7.60. The company has a market capitalization of £16.02 million, a PE ratio of -1.27 and a beta of 0.21.

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Ondo InsurTech (LON:ONDO – Get Free Report) last issued its earnings results on Thursday, July 30th. The company reported GBX (510) earnings per share (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

In other Ondo InsurTech news, insider Kevin Withington purchased 282,468 shares of the firm’s stock in a transaction that occurred on Friday, July 10th. The stock was purchased at an average price of GBX 3 per share, for a total transaction of £8,474.04. Also, insider Craig Foster bought 988,639 shares of Ondo InsurTech stock in a transaction dated Friday, July 10th. The stock was acquired at an average cost of GBX 3 per share, with a total value of £29,659.17. Insiders have bought a total of 5,320,450 shares of company stock worth $15,978,734 over the last ninety days. 7.75% of the stock is owned by corporate insiders.

Ondo InsurTech Company Profile

(Get Free Report)

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.

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