Ondo InsurTech (LON:ONDO) Stock Price Up 11.5% – Should You Buy?

Ondo InsurTech Plc (LON:ONDO)’s stock price traded up 11.5% during mid-day trading on Thursday . The stock traded as high as GBX 5.80 and last traded at GBX 5.80. Approximately 1,064,817 shares changed hands during mid-day 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 Trading Up 11.5%

The stock has a market capitalization of £14.30 million, a PE ratio of -1.14 and a beta of 0.21. The business has a fifty day moving average price of GBX 6.98 and a 200-day moving average price of GBX 7.68.

Ondo InsurTech (LON:ONDO) last released its earnings results on Thursday, July 30th. The company reported GBX (510) EPS for the quarter. Ondo InsurTech had a negative net margin of 154.51% and a positive return on equity of 90.48%.

Insiders Place Their Bets

In related news, insider Greig Paterson sold 692,278 shares of the firm’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of GBX 6, for a total value of £41,536.68. Also, insider James Quin purchased 260,252 shares of Ondo InsurTech stock in a transaction that occurred on Friday, July 10th. The shares were bought at an average price of GBX 3 per share, for a total transaction of £7,807.56. In the last quarter, insiders have bought 5,324,734 shares of company stock worth $16,008,722. Insiders own 7.75% 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.