Ondo InsurTech (LON:ONDO) Shares Down 6.9% – Should You Sell?

Ondo InsurTech Plc (LON:ONDO – Get Free Report)’s stock price traded down 6.9% during mid-day trading on Tuesday . The company traded as low as GBX 7.50 and last traded at GBX 8.10. Approximately 1,500,783 shares were traded during trading, a decline of 22% from the average daily volume of 1,926,298 shares. The stock had previously closed at GBX 8.70.

Ondo InsurTech Trading Down 6.9%

The firm’s fifty day moving average is GBX 6.02 and its 200-day moving average is GBX 10.15. The stock has a market capitalization of £19.97 million, a PE ratio of -1.59 and a beta of 0.21.

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Ondo InsurTech (LON:ONDO – Get Free Report) last announced its earnings results on Thursday, July 30th. The company reported GBX (510) earnings per share for the quarter. Ondo InsurTech had a positive return on equity of 97.63% and a negative net margin of 151.44%.

Insider Activity

In related news, insider Graham Bird bought 1,173,418 shares of the company’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 £35,202.54. Also, insider Kevin Withington bought 282,468 shares of the company’s stock in a transaction that occurred on Friday, July 10th. The stock was bought at an average price of GBX 3 per share, with a total value of £8,474.04. Insiders have bought a total of 5,362,958 shares of company stock worth $16,216,580 in the last three months. 7.74% of the stock is currently owned by corporate insiders.

About Ondo InsurTech

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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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