Key Points
- Elwood Norris sold 68,020 shares of Wrap Technologies on January 28 at an average price of $2.46 (≈$167,329), reducing his ownership by 1.25% to 5,383,033 shares and the sale was disclosed to the SEC.
- Wrap trades around $2 with a market cap of about $104.6M, has negative EPS and large negative margins, and currently carries a consensus "Sell" rating (Weiss reaffirmed a "sell (d-)").
- Institutional investors own roughly 8.82% of the stock, with firms like Vanguard and Raymond James recently increasing their stakes.
Wrap Technologies, Inc. (NASDAQ:WRAP - Get Free Report) major shareholder Elwood Norris sold 68,020 shares of Wrap Technologies stock in a transaction that occurred on Wednesday, January 28th. The stock was sold at an average price of $2.46, for a total value of $167,329.20. Following the transaction, the insider owned 5,383,033 shares of the company's stock, valued at $13,242,261.18. This represents a 1.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Large shareholders that own 10% or more of a company's stock are required to disclose their transactions with the SEC.
Wrap Technologies Trading Up 1.0%
WRAP opened at $2.03 on Wednesday. The stock's fifty day simple moving average is $2.46 and its 200 day simple moving average is $2.16. Wrap Technologies, Inc. has a 1-year low of $1.20 and a 1-year high of $3.23. The stock has a market cap of $104.57 million, a PE ratio of -6.77 and a beta of 1.46.
Wrap Technologies (NASDAQ:WRAP - Get Free Report) last released its quarterly earnings data on Wednesday, November 12th. The company reported ($0.06) EPS for the quarter. The company had revenue of $3.51 million during the quarter. Wrap Technologies had a negative net margin of 300.11% and a negative return on equity of 194.93%.
Hedge Funds Weigh In On Wrap Technologies
Several hedge funds and other institutional investors have recently added to or reduced their stakes in WRAP. Thompson Davis & CO. Inc. bought a new stake in shares of Wrap Technologies during the 2nd quarter valued at $103,000. Raymond James Financial Inc. raised its stake in Wrap Technologies by 6.0% in the third quarter. Raymond James Financial Inc. now owns 646,853 shares of the company's stock valued at $1,404,000 after purchasing an additional 36,429 shares in the last quarter. Squarepoint Ops LLC grew its stake in Wrap Technologies by 45.3% during 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. Vanguard Group Inc. increased its holdings in Wrap Technologies by 6.3% in 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 during the period. Finally, Osaic Holdings Inc. raised its position in shares of 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 buying an additional 6,442 shares in the last quarter. 8.82% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Separately, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Wrap Technologies in a research report on Friday, January 9th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Wrap Technologies presently has a consensus rating of "Sell".
Check Out Our Latest Stock Analysis on Wrap Technologies
Wrap Technologies Company Profile
(
Get Free Report)
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.
See Also
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
