Wrap Technologies (NASDAQ:WRAP) Major Shareholder Sells $63,700.00 in Stock

Wrap Technologies, Inc. (NASDAQ:WRAP) major shareholder Elwood Norris sold 35,000 shares of the company’s stock in a transaction on Monday, February 9th. The shares were sold at an average price of $1.82, for a total value of $63,700.00. Following the sale, the insider owned 5,141,042 shares of the company’s stock, valued at approximately $9,356,696.44. This trade represents a 0.68% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Wrap Technologies Stock Performance

Wrap Technologies stock opened at $1.44 on Friday. The stock has a market cap of $79.92 million, a PE ratio of -6.86 and a beta of 1.41. Wrap Technologies, Inc. has a one year low of $1.20 and a one year high of $3.23. The stock has a fifty day moving average of $1.54 and a 200 day moving average of $2.04.

Wrap Technologies (NASDAQ:WRAP) last posted its quarterly earnings data on Thursday, March 26th. The company reported ($0.08) EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.02. The company had revenue of $1.40 million during the quarter, compared to analysts’ expectations of $1.61 million. Wrap Technologies had a negative return on equity of 103.50% and a negative net margin of 198.63%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Wrap Technologies in a report on Wednesday, April 8th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has an average rating of “Sell”.

Hedge Funds Weigh In On Wrap Technologies

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Wrap Technologies by 6.3% during the 3rd quarter. Vanguard Group Inc. now owns 1,660,908 shares of the company’s stock valued at $3,604,000 after buying an additional 98,782 shares in the last quarter. Raymond James Financial Inc. boosted its holdings in shares of Wrap Technologies by 6.0% in the 3rd quarter. Raymond James Financial Inc. now owns 646,853 shares of the company’s stock worth $1,404,000 after purchasing an additional 36,429 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Wrap Technologies by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 407,287 shares of the company’s stock worth $970,000 after purchasing an additional 6,340 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Wrap Technologies by 236.0% in the 4th quarter. Renaissance Technologies LLC now owns 156,900 shares of the company’s stock worth $373,000 after purchasing an additional 110,200 shares during the period. Finally, State Street Corp boosted its holdings in shares of Wrap Technologies by 16.2% in the 4th quarter. State Street Corp now owns 129,667 shares of the company’s stock worth $309,000 after purchasing an additional 18,100 shares during the period. Hedge funds and other 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.