Wrap Technologies (NASDAQ:WRAP) Major Shareholder Elwood Norris Sells 35,000 Shares of Stock

Wrap Technologies, Inc. (NASDAQ:WRAP) major shareholder Elwood Norris sold 35,000 shares of the company’s stock in a transaction on Monday, October 13th. The stock was sold at an average price of $2.56, for a total transaction of $89,600.00. Following the completion of the transaction, the insider directly owned 647,738 shares of the company’s stock, valued at approximately $1,658,209.28. The trade was a 5.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Wrap Technologies Price Performance

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

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

Hedge Funds Weigh In On Wrap Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in WRAP. XTX Topco Ltd acquired a new position in Wrap Technologies during the second quarter worth $32,000. Osaic Holdings Inc. grew 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 valued at $84,000 after acquiring an additional 6,442 shares during the period. Thompson Davis & CO. Inc. acquired a new position in shares of Wrap Technologies during the 2nd quarter worth about $103,000. Squarepoint Ops LLC increased its stake 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. Finally, Raymond James Financial Inc. raised its holdings in shares of Wrap Technologies by 6.0% in the 3rd 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 during the period. 8.82% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Key Headlines 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.

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.