Ondo InsurTech (LON:ONDO) Stock Price Down 1.4% – Here’s Why

Ondo InsurTech Plc (LON:ONDO) dropped 1.4% during mid-day trading on Friday . The company traded as low as GBX 17 and last traded at GBX 17. Approximately 279,931 shares traded hands during mid-day trading, a decline of 64% from the average daily volume of 777,254 shares. The stock had previously closed at GBX 17.25.

Ondo InsurTech Price Performance

The stock has a 50 day moving average price of GBX 19.09 and a two-hundred day moving average price of GBX 26.18. The firm has a market capitalization of £25.47 million, a price-to-earnings ratio of -2.82 and a beta of 0.85.

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.