Wrap Technologies (NASDAQ:WRAP) Major Shareholder Elwood Norris Sells 50,000 Shares

Wrap Technologies, Inc. (NASDAQ:WRAP) major shareholder Elwood Norris sold 50,000 shares of the business’s stock in a transaction on Thursday, October 23rd. The shares were sold at an average price of $2.52, for a total transaction of $126,000.00. Following the transaction, the insider directly owned 419,867 shares in the company, valued at approximately $1,058,064.84. The trade was a 10.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Wrap Technologies Stock Down 8.1%

Shares of NASDAQ:WRAP traded down $0.20 on Thursday, hitting $2.28. The company had a trading volume of 447,625 shares, compared to its average volume of 397,440. The firm’s 50-day simple moving average is $2.46 and its two-hundred day simple moving average is $2.13. The firm has a market capitalization of $117.44 million, a price-to-earnings ratio of -7.60 and a beta of 1.43. Wrap Technologies, Inc. has a 1 year low of $1.20 and a 1 year high of $3.23.

Wrap Technologies (NASDAQ:WRAP) last announced its quarterly 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 company had revenue of $3.51 million for the quarter.

Institutional Investors Weigh In On Wrap Technologies

Institutional investors have recently modified their holdings of the stock. XTX Topco Ltd purchased a new position in shares of Wrap Technologies in the 2nd quarter worth about $32,000. Osaic Holdings Inc. increased its stake in Wrap Technologies by 13.6% during 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 in the last quarter. Thompson Davis & CO. Inc. purchased a new position in Wrap Technologies in the second quarter worth about $103,000. 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. Finally, Raymond James Financial Inc. lifted its stake in shares of Wrap Technologies by 6.0% in the third 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 in the last quarter. 8.82% of the stock is owned by hedge funds and other institutional investors.

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.

Wall Street Analysts Forecast Growth

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