Ondo InsurTech (LON:ONDO) Stock Price Down 4.1% – Here’s Why

Shares of Ondo InsurTech Plc (LON:ONDO) were down 4.1% during mid-day trading on Friday . The stock traded as low as GBX 29.29 ($0.39) and last traded at GBX 29.50 ($0.40). Approximately 310,546 shares changed hands during mid-day trading, a decline of 54% from the average daily volume of 671,619 shares. The stock had previously closed at GBX 30.75 ($0.41).

Ondo InsurTech Stock Down 4.1%

The firm has a market capitalization of £40.95 million, a P/E ratio of -546.30 and a beta of 0.85. The firm has a 50 day moving average of GBX 30.96 and a 200-day moving average of GBX 28.31.

Ondo InsurTech (LON:ONDO) last issued its quarterly earnings results on Wednesday, July 30th. The company reported GBX (5.40) earnings per share (EPS) for the quarter. Ondo InsurTech had a negative net margin of 118.06% and a positive return on equity of 40.48%.

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.