Elwood Norris Sells 54,381 Shares of Wrap Technologies (NASDAQ:WRAP) Stock

Wrap Technologies, Inc. (NASDAQ:WRAP) major shareholder Elwood Norris sold 54,381 shares of the firm’s stock in a transaction on Thursday, October 30th. The stock was sold at an average price of $2.77, for a total value of $150,635.37. Following the completion of the sale, the insider directly owned 285,485 shares of the company’s stock, valued at $790,793.45. The trade was a 16.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Wrap Technologies Trading Down 4.4%

Shares of NASDAQ WRAP opened at $2.18 on Friday. Wrap Technologies, Inc. has a 12 month low of $1.20 and a 12 month high of $3.23. The firm has a market capitalization of $112.29 million, a PE ratio of -7.27 and a beta of 1.43. The firm has a fifty day simple moving average of $2.47 and a two-hundred day simple moving average of $2.14.

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

Hedge Funds Weigh In On Wrap Technologies

Several institutional investors and hedge funds have recently modified their holdings of WRAP. Vanguard Group Inc. raised its position in shares of Wrap Technologies by 6.3% in the 3rd quarter. Vanguard Group Inc. now owns 1,660,908 shares of the company’s stock worth $3,604,000 after purchasing an additional 98,782 shares during the last quarter. Raymond James Financial Inc. increased its stake in Wrap Technologies by 6.0% during the 3rd quarter. Raymond James Financial Inc. now owns 646,853 shares of the company’s stock valued at $1,404,000 after purchasing an additional 36,429 shares in the last quarter. Thompson Davis & CO. Inc. purchased a new position in Wrap Technologies in the second quarter worth about $103,000. Osaic Holdings Inc. raised its holdings in Wrap Technologies by 13.6% in the second quarter. Osaic Holdings Inc. now owns 53,708 shares of the company’s stock worth $84,000 after buying an additional 6,442 shares during the last quarter. Finally, Squarepoint Ops LLC lifted its stake in shares of Wrap Technologies by 45.3% in the third quarter. Squarepoint Ops LLC now owns 50,209 shares of the company’s stock worth $109,000 after buying an additional 15,650 shares in the last quarter. 8.82% of the stock is currently owned by institutional investors.

More Wrap Technologies News

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

• Positive Sentiment: Product / contract relevance — Wrap announced a U.S.?produced, NDAA?compliant next?generation WrapVision body?worn camera (IONODES PERCEPT BC200), which improves eligibility for federal and state procurement and could help open government/enterprise contracts. Wrap Advances WrapVision (GlobeNewswire)
• Neutral Sentiment: Technicals & trading — volume is modestly above average and the stock sits between its 50?day (~$2.46) and 200?day (~$2.13) moving averages; that mixed technical picture can amplify moves from news or insider flows.
• Neutral Sentiment: Institutional activity — several funds (Vanguard, Raymond James, Squarepoint, Osaic) have meaningfully adjusted stakes recently; institutional ownership remains modest (~8.8%), so flows can move the thinly traded stock more than for larger caps.
• Negative Sentiment: Large insider selling — Elwood G. Norris (a >10% holder) executed numerous sales across Oct–Nov (and earlier), materially reducing his position; continued disclosed sales increase float and signal reduced insider conviction, a likely driver of downward pressure. SEC Insider Sale Filings
• Negative Sentiment: Weak near?term fundamentals — most recent quarter showed a small loss per share, negative margins and only ~$3.5M revenue; with a negative ROE and negative net margin, investors are focused on contract wins and cash runway rather than earnings upside.
• Negative Sentiment: Analyst consensus & ratings — the stock carries a weak consensus (MarketBeat shows a “Sell” consensus; at least one firm reaffirmed a sell rating), which can limit buyer interest until clearer revenue/contract momentum appears.

Wall Street Analyst Weigh In

WRAP has been the subject of several research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Wrap Technologies in a research report on Friday, January 9th. Wall Street Zen upgraded Wrap Technologies from a “sell” rating to a “hold” rating in a report on Friday, October 3rd. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Wrap Technologies presently 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.