Insider Buying: Wrap Technologies (NASDAQ:WRAP) CEO Acquires $23,914.00 in Stock

Wrap Technologies, Inc. (NASDAQ:WRAP) CEO Scot Cohen bought 21,740 shares of the company’s stock in a transaction on Wednesday, July 8th. The stock was purchased at an average price of $1.10 per share, with a total value of $23,914.00. Following the completion of the transaction, the chief executive officer directly owned 6,798,908 shares of the company’s stock, valued at approximately $7,478,798.80. The trade was a 0.32% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Wrap Technologies Stock Up 4.2%

Shares of WRAP stock traded up $0.10 during mid-day trading on Friday, reaching $2.46. 10,063,499 shares of the stock traded hands, compared to its average volume of 3,424,492. The company has a market cap of $137.12 million, a price-to-earnings ratio of -8.20 and a beta of 1.37. The stock’s fifty day simple moving average is $1.42 and its two-hundred day simple moving average is $1.73. Wrap Technologies, Inc. has a 1-year low of $1.04 and a 1-year high of $3.23.

Wrap Technologies (NASDAQ:WRAP) last issued its quarterly earnings data on Wednesday, May 13th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.01. Wrap Technologies had a negative net margin of 270.03% and a negative return on equity of 115.68%. The business had revenue of $1.11 million during the quarter, compared to analyst estimates of $1.61 million.

Analyst Ratings Changes

A number of equities research analysts have commented on WRAP shares. Wall Street Zen lowered Wrap Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Weiss Ratings downgraded Wrap Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, May 18th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Wrap Technologies currently has a consensus rating of “Sell”.

More Wrap Technologies News

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

• Positive Sentiment: CEO Scot Cohen bought 21,740 shares and Director John D. Shulman bought 100,000 shares at $1.10 per share, a strong vote of confidence from management and the board that often supports the stock. SEC filing – CEO purchase SEC filing – Director purchase
• Positive Sentiment: Wrap Technologies announced a strategic transaction securing U.S. and NATO distribution rights to physics-based sensing technology, which could broaden its product offering and create new revenue opportunities. Strategic transaction announcement
• Positive Sentiment: The company also issued a shareholder letter framing “the next evolution” of WRAP, reinforcing the impression that management is preparing for a broader commercial push. CEO letter to stockholders
• Positive Sentiment: Wrap also highlighted WrapShield, an autonomous defense and public safety platform, adding another growth catalyst and keeping momentum around its less-lethal and public safety technology portfolio. WrapShield launch
• Neutral Sentiment: Unusual call-option activity and editorial coverage about counter-drone and safety technologies point to rising trader interest, but they do not by themselves confirm a lasting fundamental improvement.
• Neutral Sentiment: A short-interest update showed 0 shares short, so there is no meaningful short-squeeze signal from that data point.

Institutional Investors Weigh In On Wrap Technologies

Several large investors have recently modified their holdings of the company. HRT Financial LP bought a new position in Wrap Technologies during the fourth quarter worth $27,000. XTX Topco Ltd bought a new stake in Wrap Technologies during the second quarter valued at $32,000. Osaic Holdings Inc. boosted its position 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 acquiring an additional 6,442 shares during the last quarter. Barclays PLC acquired a new stake in Wrap Technologies during the 4th quarter worth about $96,000. Finally, Squarepoint Ops LLC raised 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 worth $109,000 after acquiring an additional 15,650 shares in the last quarter. 8.82% of the stock is currently owned by institutional investors and hedge funds.

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.