Elwood Norris Sells 55,000 Shares of Wrap Technologies (NASDAQ:WRAP) Stock

Wrap Technologies, Inc. (NASDAQ:WRAP) major shareholder Elwood Norris sold 55,000 shares of Wrap Technologies stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $2.82, for a total transaction of $155,100.00. Following the completion of the transaction, the insider owned 230,485 shares of the company’s stock, valued at $649,967.70. This trade represents a 19.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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

NASDAQ WRAP opened at $2.18 on Friday. The stock’s 50 day simple moving average is $2.47 and its 200 day simple moving average is $2.14. Wrap Technologies, Inc. has a one year low of $1.20 and a one year high of $3.23. The firm has a market cap of $112.29 million, a PE ratio of -7.27 and a beta of 1.43.

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

Wrap Technologies News Summary

Here are the key news stories impacting Wrap Technologies this week:

• Positive Sentiment: Product / contract relevance — Wrap announced a U.S.‑produced, NDAA‑compliant next‑generation WrapVision body‑worn camera (IONODES PERCEPT BC200), which improves eligibility for federal and state procurement and could help open government/enterprise contracts. Wrap Advances WrapVision (GlobeNewswire)
• Neutral Sentiment: Technicals & trading — volume is modestly above average and the stock sits between its 50‑day (~$2.46) and 200‑day (~$2.13) moving averages; that mixed technical picture can amplify moves from news or insider flows.
• Neutral Sentiment: Institutional activity — several funds (Vanguard, Raymond James, Squarepoint, Osaic) have meaningfully adjusted stakes recently; institutional ownership remains modest (~8.8%), so flows can move the thinly traded stock more than for larger caps.
• Negative Sentiment: Large insider selling — Elwood G. Norris (a >10% holder) executed numerous sales across Oct–Nov (and earlier), materially reducing his position; continued disclosed sales increase float and signal reduced insider conviction, a likely driver of downward pressure. SEC Insider Sale Filings
• Negative Sentiment: Weak near‑term fundamentals — most recent quarter showed a small loss per share, negative margins and only ~$3.5M revenue; with a negative ROE and negative net margin, investors are focused on contract wins and cash runway rather than earnings upside.
• Negative Sentiment: Analyst consensus & ratings — the stock carries a weak consensus (MarketBeat shows a “Sell” consensus; at least one firm reaffirmed a sell rating), which can limit buyer interest until clearer revenue/contract momentum appears.

Analysts Set New Price Targets

WRAP has been the subject of several research analyst reports. Wall Street Zen upgraded shares of Wrap Technologies from a “sell” rating to a “hold” rating in a research report on Friday, October 3rd. Weiss Ratings reaffirmed 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 data from MarketBeat.com, the company has an average rating of “Sell”.

Hedge Funds Weigh In On Wrap Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. XTX Topco Ltd acquired a new position in shares of Wrap Technologies during the 2nd quarter worth about $32,000. Squarepoint Ops LLC boosted its stake in 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 acquiring an additional 15,650 shares during the last quarter. Osaic Holdings Inc. grew its holdings in 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 period. Thompson Davis & CO. Inc. bought a new stake in Wrap Technologies in the second quarter valued at approximately $103,000. Finally, Raymond James Financial Inc. raised its holdings in Wrap Technologies by 6.0% in the third 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 period. Institutional investors 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.