Key Points
- Elwood Norris sold 75,000 shares of Wrap Technologies on Feb. 6 at an average price of $1.87 for $140,250, leaving him with 5,216,042 shares (a 1.42% ownership decrease).
- Norris executed multiple insider sales in early February (Feb. 2–10) totaling about 189,095 shares, signaling a sustained insider sell‑off during that period.
- Wrap is a small‑cap (~$81M) company with negative earnings and margins (PE -6.95, negative ROE/net margin), a 52‑week range of $1.20–$3.23, and a MarketBeat/Weiss consensus rating of Sell.
Wrap Technologies, Inc. (NASDAQ:WRAP - Get Free Report) major shareholder Elwood Norris sold 75,000 shares of Wrap Technologies stock in a transaction on Friday, February 6th. The stock was sold at an average price of $1.87, for a total transaction of $140,250.00. Following the sale, the insider directly owned 5,216,042 shares of the company's stock, valued at $9,753,998.54. This represents a 1.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Large shareholders that own at least 10% of a company's shares are required to disclose their sales and purchases with the SEC.
Wrap Technologies Stock Performance
Shares of NASDAQ:WRAP opened at $1.46 on Wednesday. The firm has a market capitalization of $81.03 million, a PE ratio of -6.95 and a beta of 1.41. Wrap Technologies, Inc. has a 52-week low of $1.20 and a 52-week high of $3.23. The firm has a fifty day moving average of $1.54 and a 200 day moving average of $2.05.
Wrap Technologies (NASDAQ:WRAP - Get Free Report) last released its quarterly earnings results on Thursday, March 26th. The company reported ($0.08) earnings per share for the quarter, beating analysts' consensus estimates of ($0.10) by $0.02. Wrap Technologies had a negative return on equity of 103.50% and a negative net margin of 198.63%.The business had revenue of $1.40 million for the quarter, compared to the consensus estimate of $1.61 million.
Wrap Technologies News Summary
Here are the key news stories impacting Wrap Technologies this week:
- Negative Sentiment: Major shareholder Elwood G. Norris sold 27,104 shares on Feb. 10 at an average price of $1.82 (proceeds $49,329.28); his post-sale holding remained ~5.11M shares. SEC Filing
- Negative Sentiment: Norris sold 35,000 shares on Feb. 9 at $1.82 (proceeds $63,700); holding after the sale ~5.14M shares. SEC Filing
- Negative Sentiment: Norris sold 75,000 shares on Feb. 6 at $1.87 (proceeds $140,250); holding after the sale ~5.22M shares. SEC Filing
- Negative Sentiment: Norris sold 20,000 shares on Feb. 3 at $2.20 (proceeds $44,000); holding after the sale ~5.24M shares. SEC Filing
- Negative Sentiment: Norris sold 31,991 shares on Feb. 2 at $2.08 (proceeds $66,541.28); holding after the sale ~5.27M shares. SEC Filing
Institutional Trading of Wrap Technologies
Several hedge funds have recently added to or reduced their stakes in the business. HRT Financial LP purchased a new stake in Wrap Technologies during the fourth quarter valued at about $27,000. XTX Topco Ltd purchased a new position in shares of Wrap Technologies in the second quarter worth about $32,000. Osaic Holdings Inc. lifted its stake 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 acquiring an additional 6,442 shares during the last quarter. Barclays PLC bought a new stake in shares of Wrap Technologies in the 4th quarter valued at about $96,000. Finally, Squarepoint Ops LLC boosted its holdings in Wrap Technologies by 45.3% during the 3rd quarter. Squarepoint Ops LLC now owns 50,209 shares of the company's stock valued at $109,000 after acquiring an additional 15,650 shares during the period. 8.82% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
Separately, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Wrap Technologies in a research note on Wednesday, April 8th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has a consensus rating of "Sell".
Read Our Latest Stock Analysis on Wrap Technologies
About Wrap Technologies
(
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.
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