Elwood Norris Sells 25,000 Shares of Wrap Technologies (NASDAQ:WRAP) Stock

Wrap Technologies, Inc. (NASDAQ:WRAP) major shareholder Elwood Norris sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 16th. The stock was sold at an average price of $2.43, for a total transaction of $60,750.00. Following the completion of the transaction, the insider owned 579,867 shares in the company, valued at $1,409,076.81. This represents a 4.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Wrap Technologies Stock Performance

NASDAQ:WRAP traded down $0.20 during midday trading on Thursday, reaching $2.28. 447,625 shares of the stock traded hands, compared to its average volume of 397,440. The stock has a market capitalization of $117.44 million, a P/E ratio of -7.60 and a beta of 1.43. The company has a fifty day moving average of $2.46 and a 200 day moving average of $2.13. Wrap Technologies, Inc. has a 12 month low of $1.20 and a 12 month high of $3.23.

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

Key Stories Impacting 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.

Hedge Funds Weigh In On Wrap Technologies

A number of institutional investors have recently bought and sold shares of WRAP. Thompson Davis & CO. Inc. purchased a new stake in Wrap Technologies in the second quarter worth about $103,000. XTX Topco Ltd purchased a new position in shares of Wrap Technologies during the 2nd quarter worth approximately $32,000. Osaic Holdings Inc. raised its position 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 worth $84,000 after acquiring an additional 6,442 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Wrap Technologies by 6.3% in the 3rd 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 period. Finally, Squarepoint Ops LLC lifted its stake 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 valued at $109,000 after purchasing an additional 15,650 shares during the period. 8.82% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

WRAP has been the subject of a number of recent analyst reports. Wall Street Zen raised Wrap Technologies from a “sell” rating to a “hold” rating in a research report on Friday, October 3rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Wrap Technologies in a research note on Friday, January 9th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Wrap Technologies presently has a consensus rating of “Sell”.

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.