Investors Buy Large Volume of Call Options on Wrap Technologies (NASDAQ:WRAP)

Wrap Technologies, Inc. (NASDAQ:WRAP) saw unusually large options trading on Thursday. Traders acquired 8,561 call options on the company. This is an increase of 626% compared to the average daily volume of 1,180 call options.

Hedge Funds Weigh In On Wrap Technologies

Hedge funds have recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. increased its position in Wrap Technologies by 351.2% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 215,250 shares of the company’s stock worth $667,000 after buying an additional 167,547 shares in the last quarter. Mariner LLC acquired a new position in shares of Wrap Technologies during the first quarter worth about $380,000. Welch Group LLC purchased a new stake in shares of Wrap Technologies during the fourth quarter worth about $218,000. Advisor Group Holdings Inc. increased its position in shares of Wrap Technologies by 232.1% during the fourth quarter. Advisor Group Holdings Inc. now owns 67,536 shares of the company’s stock worth $114,000 after acquiring an additional 47,200 shares during the last quarter. Finally, Cetera Advisor Networks LLC purchased a new stake in shares of Wrap Technologies during the second quarter worth about $84,000. 8.82% of the stock is owned by hedge funds and other institutional investors.

Wrap Technologies Price Performance

WRAP opened at $2.08 on Friday. The business has a 50 day simple moving average of $2.97 and a 200-day simple moving average of $2.75. The stock has a market capitalization of $91.96 million, a P/E ratio of -5.47 and a beta of 1.44. Wrap Technologies has a 12 month low of $0.95 and a 12 month high of $7.01.

Wrap Technologies Company Profile

Wrap Technologies, Inc, a public safety technology and services company, develops policing solutions to law enforcement and security personnel. The company's flagship product is BolaWrap 150, a handheld remote restraint device that discharges a seven and a half-foot Kevlar tether, entangling an individual from a range of 10-25 feet.