Wrap Technologies (NASDAQ:WRAP) Major Shareholder Elwood Norris Sells 20,000 Shares

Wrap Technologies, Inc. (NASDAQ:WRAP) major shareholder Elwood Norris sold 20,000 shares of the firm’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $2.20, for a total transaction of $44,000.00. Following the completion of the transaction, the insider directly owned 5,236,042 shares of the company’s stock, valued at approximately $11,519,292.40. The trade was a 0.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 Price Performance

WRAP stock traded down $0.03 during midday trading on Tuesday, reaching $1.46. The company had a trading volume of 203,097 shares, compared to its average volume of 369,074. The firm has a 50-day moving average price of $1.55 and a 200-day moving average price of $2.06. The company has a market capitalization of $80.97 million, a P/E ratio of -6.95 and a beta of 1.41. Wrap Technologies, Inc. has a 1 year low of $1.20 and a 1 year high of $3.23.

Wrap Technologies (NASDAQ:WRAP) last announced its quarterly earnings data on Thursday, March 26th. The company reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.02. The firm had revenue of $1.40 million during the quarter, compared to the consensus estimate of $1.61 million. Wrap Technologies had a negative return on equity of 103.50% and a negative net margin of 198.63%.

Institutional Trading of Wrap Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of WRAP. OMERS ADMINISTRATION Corp purchased a new stake in shares of Wrap Technologies during the fourth quarter valued at about $126,000. Barclays PLC purchased a new stake in Wrap Technologies during the fourth quarter valued at approximately $96,000. State Street Corp lifted its position in Wrap Technologies by 16.2% during the fourth quarter. State Street Corp now owns 129,667 shares of the company’s stock valued at $309,000 after acquiring an additional 18,100 shares during the last quarter. Jane Street Group LLC boosted its stake in Wrap Technologies by 417.6% in the fourth quarter. Jane Street Group LLC now owns 120,272 shares of the company’s stock valued at $286,000 after acquiring an additional 97,035 shares in the last quarter. Finally, HRT Financial LP purchased a new position in Wrap Technologies in the fourth quarter worth $27,000. Institutional investors own 8.82% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Wrap Technologies in a research note on Wednesday, April 8th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, Wrap Technologies has an average rating of “Sell”.

Wrap Technologies Company Profile

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.