Craig Foster, an insider at Ondo InsurTech Plc, has purchased 825 shares of the company on January 29, 2024. The transaction was valued at a total of £148.50, with an average price of GBX 18 per share. This acquisition follows another recent purchase made by Foster, who acquired 681 shares on December 29, 2023, at an average price of GBX 22, amounting to £149.82.
Market Performance Overview
On January 30, 2024, shares of Ondo InsurTech traded up by GBX 0.40, reaching GBX 18.40. The trading volume for the day was 146,209 shares, significantly lower than the average volume of 923,556 shares. The company’s 50-day simple moving average stands at GBX 22.08, while the 200-day simple moving average is GBX 27.13. Ondo InsurTech has experienced a 52-week low of GBX 16 and a high of GBX 44. Currently, the company holds a market capitalization of £27.51 million and a price-to-earnings ratio of -3.05, with a beta of 0.85.
Company Profile: Ondo InsurTech
Ondo InsurTech is recognized as a leading provider of claims prevention technology tailored for home insurers. The company’s flagship product, LeakBot, is designed to mitigate water damage claims, which represent the largest segment of home insurance claims. In the United States and the United Kingdom, water damage accounts for approximately $17 billion in claims annually.
LeakBot operates as a patented self-install solution that integrates with a home’s wireless network. When a leak is detected, it alerts the homeowner via the LeakBot mobile application, facilitating access to a team of LeakBot engineers who can assist in identifying and resolving the issue.
As Ondo InsurTech continues to expand its market presence and enhance its technological solutions, the recent insider transactions may signal confidence in the company’s future growth potential.