Elwood Norris Sells 80,000 Shares of Wrap Technologies (NASDAQ:WRAP) Stock

Wrap Technologies, Inc. (NASDAQ:WRAP) major shareholder Elwood Norris sold 80,000 shares of the company’s stock in a transaction on Thursday, January 29th. The stock was sold at an average price of $2.21, for a total transaction of $176,800.00. Following the transaction, the insider owned 5,303,033 shares in the company, valued at approximately $11,719,702.93. The trade was a 1.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Wrap Technologies Price Performance

Shares of NASDAQ WRAP opened at $1.83 on Thursday. The company has a 50-day moving average price of $2.46 and a 200-day moving average price of $2.15. The stock has a market capitalization of $94.26 million, a P/E ratio of -6.10 and a beta of 1.46. Wrap Technologies, Inc. has a 1 year low of $1.20 and a 1 year high of $3.23.

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

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Wrap Technologies in a research report on Friday, January 9th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Institutional Investors Weigh In On Wrap Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. XTX Topco Ltd purchased a new position in shares of Wrap Technologies in the 2nd quarter worth approximately $32,000. Squarepoint Ops LLC raised 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 acquiring an additional 15,650 shares during the period. 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 purchasing an additional 6,442 shares during the last quarter. Thompson Davis & CO. Inc. bought a new position in shares of Wrap Technologies during the 2nd quarter worth $103,000. Finally, Raymond James Financial Inc. boosted its position 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 purchasing an additional 36,429 shares during the period. Hedge funds and other 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.