Key Points
- CEO Scot Cohen bought 21,740 shares of Wrap Technologies at $1.10 each, totaling about $23,914, and increased his direct stake by 0.32% to nearly 6.8 million shares.
- The stock was trading sharply higher, opening at $2.36 and up 48.4%, despite still showing volatility with a 12-month range of $1.04 to $3.23.
- Recent catalysts include additional insider buying, the launch of the AI-powered WrapShield platform, and a new exclusive distribution rights deal, while analysts currently rate the stock a Sell.
Wrap Technologies, Inc. (NASDAQ:WRAP - Get Free Report) CEO Scot Cohen bought 21,740 shares of the company's stock in a transaction dated Wednesday, July 8th. The stock was bought at an average price of $1.10 per share, for a total transaction of $23,914.00. Following the acquisition, the chief executive officer directly owned 6,798,908 shares of the company's stock, valued at approximately $7,478,798.80. This represents a 0.32% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Wrap Technologies Trading Up 48.4%
NASDAQ WRAP opened at $2.36 on Friday. The business has a fifty day simple moving average of $1.40 and a 200 day simple moving average of $1.73. The firm has a market capitalization of $131.55 million, a P/E ratio of -7.87 and a beta of 1.37. Wrap Technologies, Inc. has a 12 month low of $1.04 and a 12 month high of $3.23.
Wrap Technologies (NASDAQ:WRAP - Get Free Report) last released its quarterly earnings results on Wednesday, May 13th. The company reported ($0.09) earnings per share for the quarter, beating analysts' consensus estimates of ($0.10) by $0.01. Wrap Technologies had a negative net margin of 270.03% and a negative return on equity of 115.68%. The company had revenue of $1.11 million for the quarter, compared to analyst estimates of $1.61 million.
Key Stories Impacting Wrap Technologies
Here are the key news stories impacting Wrap Technologies this week:
- Positive Sentiment: CEO Scot Cohen bought 21,740 shares and Director John D. Shulman bought 100,000 shares at $1.10 per share, a strong insider-buying signal that can boost investor confidence. SEC filing - CEO purchase SEC filing - Director purchase
- Positive Sentiment: Wrap launched WrapShield, an AI-powered autonomous defense and public safety platform, which could expand its addressable market and support future revenue growth. Wrap Technologies launches WrapShield
- Positive Sentiment: The company also highlighted a new key transaction securing exclusive distribution rights to transformative detection technologies, potentially strengthening its product lineup and commercialization strategy. Exclusive distribution rights announcement
- Neutral Sentiment: Unusual options activity showed heavy call buying, indicating traders are positioning for more upside but not confirming a fundamental change.
- Neutral Sentiment: Wrap was also featured in multiple editorial/newswire pieces about nonlethal law-enforcement technology and counter-drone threats, adding visibility but limited direct financial impact. Editorial coverage
- Negative Sentiment: One article noted the stock had been trading down earlier, suggesting volatility remains high despite the recent positive catalysts. Wrap Technologies trading down article
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC increased its stake in shares of Wrap Technologies by 101.9% during the 1st quarter. Renaissance Technologies LLC now owns 316,762 shares of the company's stock worth $488,000 after purchasing an additional 159,862 shares during the last quarter. Vanguard Group Inc. lifted its stake in Wrap Technologies by 6.3% in the third quarter. Vanguard Group Inc. now owns 1,660,908 shares of the company's stock valued at $3,604,000 after purchasing an additional 98,782 shares during the last quarter. Jane Street Group LLC grew its holdings in Wrap Technologies by 417.6% during the fourth quarter. Jane Street Group LLC now owns 120,272 shares of the company's stock valued at $286,000 after purchasing an additional 97,035 shares during the period. OMERS ADMINISTRATION Corp bought a new position in Wrap Technologies during the fourth quarter valued at $126,000. Finally, Barclays PLC bought a new position in Wrap Technologies during the fourth quarter valued at $96,000. 8.82% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Several equities analysts have recently issued reports on WRAP shares. Weiss Ratings lowered Wrap Technologies from a "sell (d-)" rating to a "sell (e+)" rating in a report on Monday, May 18th. Wall Street Zen lowered Wrap Technologies from a "hold" rating to a "sell" rating in a report on Saturday, May 16th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has an average rating of "Sell".
Get Our Latest Report on WRAP
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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