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An announcement from Ondo InsurTech Plc ( (GB:ONDO) ) is now available.
Ondo InsurTech plc has successfully raised £2.28 million through a combination of placing and subscription, with plans to further expand its operations in the US market. The funds will be used to enhance US Plumber coverage and accelerate the rollout of LeakBot across the United States, as well as to develop LeakBot Edge for hot-climate external locations. The company is shifting its focus from the subdued European market to the rapidly growing US market, where it has seen a significant increase in customers and recurring revenues.
The most recent analyst rating on (GB:ONDO) stock is a Hold with a £31.00 price target. To see the full list of analyst forecasts on Ondo InsurTech Plc stock, see the GB:ONDO Stock Forecast page.
Spark’s Take on GB:ONDO Stock
According to Spark, TipRanks’ AI Analyst, GB:ONDO is a Neutral.
Ondo InsurTech Plc’s overall stock score is primarily impacted by its financial performance, which is a major concern due to negative profitability and high leverage. Technical analysis provides a neutral outlook, while valuation metrics highlight ongoing financial challenges.
To see Spark’s full report on GB:ONDO stock, click here.
More about Ondo InsurTech Plc
Ondo InsurTech plc is a leading company in claims prevention technology for home insurers, focusing on the development and deployment of innovative solutions such as LeakBot, a water leak detection technology.
Average Trading Volume: 697,796
Technical Sentiment Signal: Buy
Current Market Cap: £41.71M
Learn more about ONDO stock on TipRanks’ Stock Analysis page.