Wrap Technologies (NASDAQ:WRAP) Major Shareholder Elwood Norris Sells 55,000 Shares

Wrap Technologies, Inc. (NASDAQ:WRAP) major shareholder Elwood Norris sold 55,000 shares of the company’s stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $2.82, for a total transaction of $155,100.00. Following the completion of the transaction, the insider owned 230,485 shares in the company, valued at approximately $649,967.70. This represents a 19.27% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Wrap Technologies Stock Down 8.1%

Shares of WRAP opened at $2.28 on Friday. Wrap Technologies, Inc. has a twelve month low of $1.20 and a twelve month high of $3.23. The company has a market capitalization of $117.44 million, a P/E ratio of -7.60 and a beta of 1.43. The firm has a 50 day moving average of $2.46 and a 200 day moving average of $2.13.

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

Key Wrap Technologies News

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 Upgrades and Downgrades

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

Hedge Funds Weigh In On Wrap Technologies

Institutional investors have recently made changes to their positions in the business. XTX Topco Ltd purchased a new position in shares of Wrap Technologies in the second quarter worth approximately $32,000. Osaic Holdings Inc. raised its position 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 acquiring an additional 6,442 shares during the period. Thompson Davis & CO. Inc. purchased a new position in shares of Wrap Technologies during the 2nd quarter worth $103,000. Squarepoint Ops LLC boosted its stake in shares of Wrap Technologies by 45.3% during the 3rd quarter. Squarepoint Ops LLC now owns 50,209 shares of the company’s stock worth $109,000 after acquiring an additional 15,650 shares during the last quarter. Finally, Raymond James Financial Inc. grew its position in shares of 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 acquiring an additional 36,429 shares during the period. Institutional investors own 8.82% of the company’s stock.

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.