Wrap Technologies (NASDAQ:WRAP) Major Shareholder Elwood Norris Sells 30,000 Shares

Wrap Technologies, Inc. (NASDAQ:WRAP) major shareholder Elwood Norris sold 30,000 shares of the firm’s stock in a transaction on Monday, November 24th. The shares were sold at an average price of $2.06, for a total transaction of $61,800.00. Following the completion of the transaction, the insider directly owned 64,928 shares of the company’s stock, valued at $133,751.68. This represents a 31.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Wrap Technologies Price Performance

WRAP stock traded down $0.20 during trading hours on Thursday, reaching $2.28. The stock had a trading volume of 447,625 shares, compared to its average volume of 397,440. The stock has a 50-day simple moving average of $2.46 and a 200 day simple moving average of $2.13. Wrap Technologies, Inc. has a fifty-two week low of $1.20 and a fifty-two week high of $3.23. The stock has a market capitalization of $117.44 million, a PE ratio of -7.60 and a beta of 1.43.

Wrap Technologies (NASDAQ:WRAP) last issued its earnings results on Wednesday, November 12th. The company reported ($0.06) earnings per share (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.

Hedge Funds Weigh In On Wrap Technologies

Institutional investors and hedge funds have recently made changes to their positions in the company. XTX Topco Ltd acquired a new position in shares of Wrap Technologies in the second quarter valued at approximately $32,000. Osaic Holdings Inc. boosted its stake in Wrap Technologies by 13.6% in the 2nd 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 period. Thompson Davis & CO. Inc. acquired a new position in Wrap Technologies in the 2nd quarter valued at $103,000. Squarepoint Ops LLC grew its holdings in Wrap Technologies by 45.3% in the 3rd quarter. Squarepoint Ops LLC now owns 50,209 shares of the company’s stock valued at $109,000 after buying an additional 15,650 shares in the last quarter. Finally, Raymond James Financial Inc. increased its position in Wrap Technologies by 6.0% during the 3rd quarter. Raymond James Financial Inc. now owns 646,853 shares of the company’s stock worth $1,404,000 after buying an additional 36,429 shares during the period. Institutional investors and hedge funds own 8.82% of the company’s stock.

Key Headlines 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.

Analyst Ratings Changes

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