Ondo InsurTech (LON:ONDO) Shares Up 15.1% – Here’s Why

Shares of Ondo InsurTech Plc (LON:ONDO) rose 15.1% on Friday . The company traded as high as GBX 4.40 and last traded at GBX 4.37. Approximately 1,952,950 shares changed hands during trading, an increase of 64% from the average daily volume of 1,188,600 shares. The stock had previously closed at GBX 3.80.

Ondo InsurTech Price Performance

The stock has a market capitalization of £6.55 million, a price-to-earnings ratio of -0.73 and a beta of 0.85. The business’s 50-day simple moving average is GBX 10.19 and its two-hundred day simple moving average is GBX 17.82.

Ondo InsurTech Company Profile

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.