Wrap Technologies (NASDAQ:WRAP) Major Shareholder Sells $155,100.00 in Stock

Wrap Technologies, Inc. (NASDAQ:WRAP) major shareholder Elwood Norris sold 55,000 shares of the company’s stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $2.82, for a total value of $155,100.00. Following the sale, the insider directly owned 230,485 shares of the company’s stock, valued at $649,967.70. The trade was a 19.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Wrap Technologies Stock Down 8.1%

Shares of NASDAQ:WRAP traded down $0.20 during trading on Thursday, reaching $2.28. The stock had a trading volume of 447,625 shares, compared to its average volume of 397,440. The stock has a fifty day simple moving average of $2.46 and a two-hundred day simple moving average of $2.13. Wrap Technologies, Inc. has a 52 week low of $1.20 and a 52 week high of $3.23. The firm has a market capitalization of $117.44 million, a price-to-earnings ratio of -7.60 and a beta of 1.43.

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

Several analysts recently weighed in on WRAP shares. Weiss Ratings restated a “sell (d-)” rating on shares of Wrap Technologies in a research note on Friday, January 9th. Wall Street Zen upgraded Wrap Technologies from a “sell” rating to a “hold” rating in a report on Friday, October 3rd. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has a consensus rating of “Sell”.

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

Several large investors have recently added to or reduced their stakes in the company. XTX Topco Ltd acquired a new position in Wrap Technologies during the 2nd quarter worth about $32,000. Squarepoint Ops LLC lifted its position in shares of Wrap Technologies by 45.3% during the third quarter. Squarepoint Ops LLC now owns 50,209 shares of the company’s stock worth $109,000 after purchasing an additional 15,650 shares in the last quarter. Osaic Holdings Inc. grew 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 valued at $84,000 after purchasing an additional 6,442 shares during the last quarter. Thompson Davis & CO. Inc. acquired a new stake in shares of Wrap Technologies in the second quarter valued at approximately $103,000. Finally, Raymond James Financial Inc. raised its position in Wrap Technologies by 6.0% in the 3rd quarter. Raymond James Financial Inc. now owns 646,853 shares of the company’s stock worth $1,404,000 after purchasing an additional 36,429 shares during the last quarter. Institutional investors and hedge funds own 8.82% of the company’s stock.

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.