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 business’s stock in a transaction on Wednesday, January 28th. The shares were sold at an average price of $2.46, for a total value of $167,329.20. Following the sale, the insider owned 5,383,033 shares in the company, valued at approximately $13,242,261.18. The trade was a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Wrap Technologies Price Performance

Shares of WRAP traded up $0.02 during midday trading on Tuesday, hitting $2.03. 395,594 shares of the company traded hands, compared to its average volume of 454,450. The stock has a 50-day moving average of $2.46 and a 200-day moving average of $2.15. 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 $104.56 million, a P/E ratio of -6.77 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. The firm 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%.

Institutional Investors Weigh In On Wrap Technologies

A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings 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 valued at $3,604,000 after purchasing an additional 98,782 shares during the last quarter. 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 valued at $1,404,000 after buying an additional 36,429 shares during the period. Thompson Davis & CO. Inc. bought a new position in shares of Wrap Technologies during the second quarter valued at about $103,000. Osaic Holdings Inc. increased its holdings in shares of Wrap Technologies by 13.6% in the second 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 period. Finally, Squarepoint Ops LLC increased its holdings in shares of 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 buying an additional 15,650 shares during the period. 8.82% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

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.