Wrap Technologies (NASDAQ:WRAP) Major Shareholder Elwood Norris Sells 55,000 Shares

Wrap Technologies, Inc. (NASDAQ:WRAP) major shareholder Elwood Norris sold 55,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 7th. The shares were sold at an average price of $2.83, for a total value of $155,650.00. Following the completion of the transaction, the insider owned 687,738 shares of the company’s stock, valued at approximately $1,946,298.54. This represents a 7.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Wrap Technologies Stock Down 8.1%

Shares of Wrap Technologies stock opened at $2.28 on Friday. The stock has a market cap of $117.44 million, a P/E ratio of -7.60 and a beta of 1.43. Wrap Technologies, Inc. has a 12-month low of $1.20 and a 12-month high of $3.23. The business’s 50 day moving average is $2.46 and its 200-day moving average is $2.13.

Wrap Technologies (NASDAQ:WRAP) last issued its earnings results on Wednesday, November 12th. The company reported ($0.06) earnings per share for the quarter. Wrap Technologies had a negative return on equity of 194.93% and a negative net margin of 300.11%.The firm had revenue of $3.51 million for the quarter.

Trending Headlines about Wrap Technologies

Here are the key news stories impacting Wrap Technologies this week:

• Positive Sentiment: Launched a next‑generation, U.S.‑produced, NDAA‑compliant WrapVision body‑worn camera platform (IONODES PERCEPT BC200). This targets regulated public‑safety and enterprise procurement (NDAA compliance and U.S. country‑of‑origin improve eligibility for many government contracts). Wrap Advances WrapVision (GlobeNewswire)
• Neutral Sentiment: Technicals and trading: volume is modestly above average and the stock sits between its 50‑day (~$2.46) and 200‑day (~$2.13) moving averages — a mixed technical picture that can amplify moves from news or insider activity.
• Negative Sentiment: Significant insider selling by major shareholder Elwood G. Norris across many transactions (Oct–Nov filings show repeated large share sales and material reductions in his holdings). Heavy, disclosed sales by a >10% holder can increase supply and signal reduced insider conviction, pressuring the share price. SEC Insider Sale Filings
• Negative Sentiment: Recent fundamentals remain weak: last reported quarter showed a small loss per share, negative margins and limited revenue (~$3.5M), which keeps investor focus on cash‑flow and contract wins rather than near‑term profitability.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on WRAP shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Wrap Technologies in a research note on Friday, January 9th. Wall Street Zen raised Wrap Technologies from a “sell” rating to a “hold” rating in a research report on Friday, October 3rd. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has an average rating of “Sell”.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of WRAP. XTX Topco Ltd acquired a new stake in Wrap Technologies during the second quarter worth approximately $32,000. Osaic Holdings Inc. increased its stake in shares of Wrap Technologies by 13.6% during the second quarter. Osaic Holdings Inc. now owns 53,708 shares of the company’s stock worth $84,000 after purchasing an additional 6,442 shares during the period. Thompson Davis & CO. Inc. acquired a new stake in Wrap Technologies during the 2nd quarter worth approximately $103,000. Squarepoint Ops LLC boosted its stake in Wrap Technologies by 45.3% in the 3rd quarter. Squarepoint Ops LLC now owns 50,209 shares of the company’s stock valued at $109,000 after purchasing an additional 15,650 shares during the period. Finally, Raymond James Financial Inc. grew its holdings in Wrap Technologies by 6.0% in the 3rd quarter. Raymond James Financial Inc. now owns 646,853 shares of the company’s stock valued at $1,404,000 after buying an additional 36,429 shares in the last quarter. 8.82% of the stock is owned by institutional investors.

About Wrap Technologies

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.