Elwood Norris Sells 68,020 Shares of Wrap Technologies (NASDAQ:WRAP) Stock

Wrap Technologies, Inc. (NASDAQ:WRAP) major shareholder Elwood Norris sold 68,020 shares of the business’s stock in a transaction that occurred on Wednesday, January 28th. The shares were sold at an average price of $2.46, for a total value of $167,329.20. Following the sale, the insider owned 5,383,033 shares in the company, valued at approximately $13,242,261.18. This represents a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Wrap Technologies Price Performance

Shares of WRAP stock opened at $1.83 on Thursday. Wrap Technologies, Inc. has a one year low of $1.20 and a one year high of $3.23. The stock has a fifty day moving average price of $2.46 and a 200 day moving average price of $2.15. The stock has a market cap of $94.26 million, a P/E ratio of -6.10 and a beta of 1.46.

Wrap Technologies (NASDAQ:WRAP) last announced its quarterly earnings data on Wednesday, November 12th. The company reported ($0.06) earnings per share (EPS) for the quarter. The business 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%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Wrap Technologies in a report on Friday, January 9th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

Institutional Investors Weigh In On Wrap Technologies

A number of hedge funds have recently made changes to their positions in WRAP. Thompson Davis & CO. Inc. bought a new position in Wrap Technologies during the 2nd quarter valued at about $103,000. XTX Topco Ltd bought a new stake in Wrap Technologies during the second quarter worth about $32,000. Osaic Holdings Inc. increased its holdings 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 buying an additional 6,442 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of 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 acquiring an additional 98,782 shares during the last quarter. Finally, Squarepoint Ops LLC boosted its holdings in shares of Wrap Technologies by 45.3% in the 3rd quarter. Squarepoint Ops LLC now owns 50,209 shares of the company’s stock worth $109,000 after acquiring an additional 15,650 shares in the last quarter. Institutional investors and hedge funds own 8.82% of the company’s stock.

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.