Wrap Technologies (NASDAQ:WRAP) Major Shareholder Sells $167,329.20 in Stock

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

Wrap Technologies Stock Performance

Wrap Technologies stock opened at $1.66 on Friday. The company has a market capitalization of $85.50 million, a P/E ratio of -5.53 and a beta of 1.46. Wrap Technologies, Inc. has a fifty-two week low of $1.20 and a fifty-two week high of $3.23. The stock has a 50-day simple moving average of $2.44 and a 200-day simple moving average of $2.15.

Wrap Technologies (NASDAQ:WRAP) last released 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 for the quarter.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Wrap Technologies in a research note on Friday, January 9th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, Wrap Technologies presently has a consensus rating of “Sell”.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of WRAP. Vanguard Group Inc. lifted its holdings in shares of Wrap Technologies by 6.3% during the third 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 period. Thompson Davis & CO. Inc. acquired a new position in Wrap Technologies in the 2nd quarter valued at $103,000. Raymond James Financial Inc. raised its position in Wrap Technologies by 6.0% during the 3rd quarter. Raymond James Financial Inc. now owns 646,853 shares of the company’s stock worth $1,404,000 after buying an additional 36,429 shares during the last quarter. XTX Topco Ltd acquired a new stake in shares of Wrap Technologies in the 2nd quarter worth $32,000. Finally, Squarepoint Ops LLC boosted its holdings in shares of Wrap Technologies by 45.3% in the third quarter. Squarepoint Ops LLC now owns 50,209 shares of the company’s stock valued at $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.