Stock Traders Purchase High Volume of Call Options on Wrap Technologies (NASDAQ:WRAP)

Wrap Technologies, Inc. (NASDAQ:WRAP) was the recipient of some unusual options trading activity on Wednesday. Traders purchased 8,282 call options on the company. This represents an increase of 690% compared to the average daily volume of 1,048 call options.

Wrap Technologies Stock Performance

Shares of WRAP stock opened at $1.76 on Friday. The stock’s 50 day simple moving average is $1.54 and its 200 day simple moving average is $1.68. Wrap Technologies has a twelve month low of $1.04 and a twelve month high of $3.23. The company has a market capitalization of $98.10 million, a price-to-earnings ratio of -5.87 and a beta of 1.37.

Wrap Technologies (NASDAQ:WRAP) last announced its earnings results on Wednesday, May 13th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.01. Wrap Technologies had a negative return on equity of 115.68% and a negative net margin of 270.03%.The firm had revenue of $1.11 million during the quarter, compared to analysts’ expectations of $1.61 million.

Analysts Set New Price Targets

A number of research firms have recently weighed in on WRAP. Wall Street Zen downgraded shares of Wrap Technologies from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Weiss Ratings cut shares of Wrap Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, May 18th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has an average rating of “Sell”.

Insider Transactions at Wrap Technologies

In other Wrap Technologies news, Director John D. Shulman bought 100,000 shares of the firm’s stock in a transaction on Wednesday, July 8th. The stock was bought at an average cost of $1.10 per share, with a total value of $110,000.00. Following the completion of the transaction, the director directly owned 199,037 shares of the company’s stock, valued at approximately $218,940.70. The trade was a 100.97% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 33.26% of the stock is owned by company insiders.

Institutional Trading of Wrap Technologies

Several large investors have recently modified their holdings of the company. Renaissance Technologies LLC grew its stake in Wrap Technologies by 101.9% in the 1st quarter. Renaissance Technologies LLC now owns 316,762 shares of the company’s stock valued at $488,000 after buying an additional 159,862 shares during the last quarter. Vanguard Group Inc. lifted its position in 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 acquiring an additional 98,782 shares during the last quarter. Jane Street Group LLC lifted its position in Wrap Technologies by 417.6% during the 4th quarter. Jane Street Group LLC now owns 120,272 shares of the company’s stock worth $286,000 after acquiring an additional 97,035 shares during the last quarter. OMERS ADMINISTRATION Corp acquired a new position in Wrap Technologies during the 4th quarter worth $126,000. Finally, Barclays PLC bought a new stake in Wrap Technologies during the fourth quarter valued at about $96,000. 8.82% of the stock is owned by institutional investors.

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.