Wrap Technologies (NASDAQ:WRAP) Major Shareholder Elwood Norris Sells 75,000 Shares

Wrap Technologies, Inc. (NASDAQ:WRAP) major shareholder Elwood Norris sold 75,000 shares of the business’s stock in a transaction that occurred on Monday, October 20th. The shares were sold at an average price of $2.48, for a total value of $186,000.00. Following the sale, the insider owned 494,867 shares of the company’s stock, valued at approximately $1,227,270.16. This represents a 13.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Wrap Technologies Stock Down 8.1%

Shares of WRAP opened at $2.28 on Friday. The business’s fifty day moving average is $2.46 and its 200 day moving average is $2.13. Wrap Technologies, Inc. has a 12-month low of $1.20 and a 12-month high of $3.23. The stock has a market cap of $117.44 million, a P/E ratio of -7.60 and a beta of 1.43.

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

Analysts Set New Price Targets

WRAP has been the subject of a number of analyst reports. Wall Street Zen upgraded Wrap Technologies from a “sell” rating to a “hold” rating in a research note on Friday, October 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Wrap Technologies in a research report on Friday, January 9th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Sell”.

Hedge Funds Weigh In On Wrap Technologies

Several hedge funds have recently modified their holdings of WRAP. Osaic Holdings Inc. boosted its stake 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 worth $84,000 after buying an additional 6,442 shares during the last quarter. Squarepoint Ops LLC boosted its position in Wrap Technologies by 45.3% in 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 during the last quarter. XTX Topco Ltd bought a new position in Wrap Technologies in the 2nd quarter valued at $32,000. Raymond James Financial Inc. grew its stake in 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. Finally, Thompson Davis & CO. Inc. purchased a new stake in shares of Wrap Technologies during the 2nd quarter valued at $103,000. Institutional investors own 8.82% of the company’s stock.

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.

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.