Wrap Technologies (NASDAQ:WRAP) Stock Price Down 5.3% – What’s Next?

Shares of Wrap Technologies, Inc. (NASDAQ:WRAP) traded down 5.3% during mid-day trading on Thursday . The company traded as low as $1.97 and last traded at $1.98. 84,943 shares traded hands during mid-day trading, a decline of 57% from the average session volume of 199,718 shares. The stock had previously closed at $2.09.

Wrap Technologies Stock Down 4.0 %

The stock has a 50-day moving average price of $2.08 and a 200 day moving average price of $1.82. The firm has a market capitalization of $87.18 million, a price-to-earnings ratio of -4.52 and a beta of 1.37.

Institutional Investors Weigh In On Wrap Technologies

A number of large investors have recently modified their holdings of WRAP. Raymond James Financial Inc. purchased a new stake in shares of Wrap Technologies during the 4th quarter worth $1,906,000. Geode Capital Management LLC boosted its position in shares of Wrap Technologies by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 349,596 shares of the company’s stock worth $741,000 after acquiring an additional 5,195 shares in the last quarter. Caption Management LLC increased its holdings in shares of Wrap Technologies by 1,083.0% in the 4th quarter. Caption Management LLC now owns 162,462 shares of the company’s stock valued at $344,000 after acquiring an additional 178,990 shares during the last quarter. Marshall Wace LLP acquired a new stake in shares of Wrap Technologies during the 4th quarter worth about $271,000. Finally, Jane Street Group LLC purchased a new stake in Wrap Technologies during the fourth quarter worth approximately $70,000. 8.82% of the stock is owned by hedge funds and other institutional investors.

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.