Wrap Technologies (NASDAQ:WRAP) Major Shareholder Elwood Norris Sells 68,020 Shares

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

Wrap Technologies Stock Up 1.0%

Shares of NASDAQ WRAP opened at $2.03 on Wednesday. Wrap Technologies, Inc. has a twelve month low of $1.20 and a twelve month high of $3.23. The company’s fifty day moving average is $2.46 and its 200-day moving average is $2.16. The stock has a market cap of $104.57 million, a price-to-earnings ratio of -6.77 and a beta of 1.46.

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

Hedge Funds Weigh In On Wrap Technologies

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. increased its position in shares of 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 purchasing an additional 98,782 shares during the last quarter. Raymond James Financial Inc. increased its holdings in Wrap Technologies by 6.0% during the third 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. Thompson Davis & CO. Inc. bought a new stake in Wrap Technologies during the second quarter worth $103,000. Osaic Holdings Inc. lifted its stake in Wrap Technologies by 13.6% in the second 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 last quarter. Finally, Squarepoint Ops LLC grew its position in shares of Wrap Technologies by 45.3% in the 3rd 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 during the period. 8.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

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.