Wrap Technologies (NASDAQ:WRAP) Major Shareholder Elwood Norris Sells 5,000 Shares of Stock

Wrap Technologies, Inc. (NASDAQ:WRAP) major shareholder Elwood Norris sold 5,000 shares of the company’s stock in a transaction dated Friday, October 10th. The shares were sold at an average price of $2.58, for a total value of $12,900.00. Following the completion of the sale, the insider directly owned 682,738 shares of the company’s stock, valued at approximately $1,761,464.04. This trade represents a 0.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Wrap Technologies Price Performance

Wrap Technologies stock opened at $2.28 on Friday. The firm has a market capitalization of $117.44 million, a price-to-earnings ratio of -7.60 and a beta of 1.43. The company’s 50 day simple moving average is $2.46 and its 200 day simple moving average is $2.13. Wrap Technologies, Inc. has a fifty-two week low of $1.20 and a fifty-two week high of $3.23.

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

Wall Street Analyst Weigh In

WRAP has been the topic of a number of research analyst reports. Wall Street Zen upgraded shares of Wrap Technologies from a “sell” rating to a “hold” rating in a 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 analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Wrap Technologies has a consensus rating of “Sell”.

Wrap Technologies News Roundup

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.

Institutional Investors Weigh In On Wrap Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Thompson Davis & CO. Inc. bought a new position in shares of Wrap Technologies in the 2nd quarter valued at about $103,000. Raymond James Financial Inc. grew its stake in Wrap Technologies by 6.0% in the third quarter. Raymond James Financial Inc. now owns 646,853 shares of the company’s stock valued at $1,404,000 after purchasing an additional 36,429 shares in the last quarter. Squarepoint Ops LLC increased its position in shares of Wrap Technologies by 45.3% during the 3rd quarter. Squarepoint Ops LLC now owns 50,209 shares of the company’s stock worth $109,000 after purchasing an additional 15,650 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Wrap Technologies by 6.3% during the 3rd quarter. Vanguard Group Inc. now owns 1,660,908 shares of the company’s stock worth $3,604,000 after purchasing an additional 98,782 shares during the last quarter. Finally, Osaic Holdings Inc. raised its stake in shares of Wrap Technologies by 13.6% during the 2nd quarter. Osaic Holdings Inc. now owns 53,708 shares of the company’s stock worth $84,000 after purchasing an additional 6,442 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.