Wrap Technologies (NASDAQ:WRAP) Major Shareholder Elwood Norris Sells 15,000 Shares of Stock

Wrap Technologies, Inc. (NASDAQ:WRAP) major shareholder Elwood Norris sold 15,000 shares of the firm’s stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $1.50, for a total transaction of $22,500.00. Following the completion of the sale, the insider owned 844,339 shares of the company’s stock, valued at $1,266,508.50. The trade was a 1.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Wrap Technologies Trading Down 8.1%

Shares of NASDAQ WRAP opened at $2.28 on Friday. The firm has a market capitalization of $117.44 million, a P/E ratio of -7.60 and a beta of 1.43. The firm’s 50-day moving average price is $2.46 and its 200-day moving average price is $2.13. Wrap Technologies, Inc. has a 1-year low of $1.20 and a 1-year high of $3.23.

Wrap Technologies (NASDAQ:WRAP) last issued its earnings results on Wednesday, November 12th. The company reported ($0.06) EPS for the quarter. Wrap Technologies had a negative net margin of 300.11% and a negative return on equity of 194.93%. The firm had revenue of $3.51 million during the quarter.

Institutional Investors Weigh In On Wrap Technologies

Several institutional investors have recently bought and sold shares of WRAP. Thompson Davis & CO. Inc. bought a new position in Wrap Technologies during the 2nd quarter valued at $103,000. XTX Topco Ltd purchased a new stake in shares of Wrap Technologies in the second quarter valued at about $32,000. Osaic Holdings Inc. raised its holdings in shares of Wrap Technologies by 13.6% in the second quarter. Osaic Holdings Inc. now owns 53,708 shares of the company’s stock valued at $84,000 after purchasing an additional 6,442 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Wrap Technologies by 6.3% during the third quarter. Vanguard Group Inc. now owns 1,660,908 shares of the company’s stock valued at $3,604,000 after purchasing an additional 98,782 shares in the last quarter. Finally, Squarepoint Ops LLC boosted its holdings in Wrap Technologies by 45.3% during the third quarter. Squarepoint Ops LLC now owns 50,209 shares of the company’s stock worth $109,000 after purchasing an additional 15,650 shares during the last quarter. Institutional investors own 8.82% of the company’s stock.

Key Stories Impacting Wrap Technologies

Here are the key news stories impacting Wrap Technologies this week:

• Positive Sentiment: Launched a next?generation, U.S.?produced, NDAA?compliant WrapVision body?worn camera platform (IONODES PERCEPT BC200). This targets regulated public?safety and enterprise procurement (NDAA compliance and U.S. country?of?origin improve eligibility for many government contracts). Wrap Advances WrapVision (GlobeNewswire)
• Neutral Sentiment: Technicals and trading: volume is modestly above average and the stock sits between its 50?day (~$2.46) and 200?day (~$2.13) moving averages — a mixed technical picture that can amplify moves from news or insider activity.
• Negative Sentiment: Significant insider selling by major shareholder Elwood G. Norris across many transactions (Oct–Nov filings show repeated large share sales and material reductions in his holdings). Heavy, disclosed sales by a >10% holder can increase supply and signal reduced insider conviction, pressuring the share price. SEC Insider Sale Filings
• Negative Sentiment: Recent fundamentals remain weak: last reported quarter showed a small loss per share, negative margins and limited revenue (~$3.5M), which keeps investor focus on cash?flow and contract wins rather than near?term profitability.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Wall Street Zen upgraded Wrap Technologies from a “sell” rating to a “hold” rating in a report on Friday, October 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Wrap Technologies in a research note on Friday, January 9th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, Wrap Technologies currently has an average rating of “Sell”.

Wrap Technologies Company Profile

Wrap Technologies, Inc (NASDAQ: WRAP) is a designer and manufacturer of less-lethal restraint devices aimed at law enforcement and security professionals. Its flagship product, the BolaWrap®, is a handheld remote restraint tool that deploys a Kevlar-reinforced cord to safely immobilize individuals from a distance of up to 25 feet. The system is engineered to support de-escalation tactics and reduce reliance on physical force in high-risk encounters.

Based in Scottsdale, Arizona, Wrap Technologies oversees product development, testing and training at its headquarters.