Wrap Technologies (NASDAQ:WRAP) Stock Price Up 7.6% – Should You Buy?

Shares of Wrap Technologies, Inc. (NASDAQ:WRAP) rose 7.6% during mid-day trading on Tuesday . The stock traded as high as $1.73 and last traded at $1.70. Approximately 291,861 shares were traded during mid-day trading, a decline of 19% from the average daily volume of 361,089 shares. The stock had previously closed at $1.58.

Analyst Ratings Changes

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

Wrap Technologies Price Performance

The stock’s 50 day moving average price is $2.23 and its two-hundred day moving average price is $2.19. The firm has a market capitalization of $91.02 million, a price-to-earnings ratio of -5.57 and a beta of 1.46.

Insider Transactions at Wrap Technologies

In other Wrap Technologies news, major shareholder Elwood G. Norris sold 80,000 shares of the company’s stock in a transaction dated Thursday, January 29th. The shares were sold at an average price of $2.21, for a total transaction of $176,800.00. Following the completion of the sale, the insider directly owned 5,303,033 shares in the company, valued at $11,719,702.93. This represents a 1.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 153,020 shares of company stock worth $354,879 in the last three months. 33.26% of the stock is owned by corporate insiders.

Institutional Trading of Wrap Technologies

A number of hedge funds have recently bought and sold shares of WRAP. Thompson Davis & CO. Inc. acquired a new position in shares of Wrap Technologies during the second quarter valued at about $103,000. OMERS ADMINISTRATION Corp bought a new position in Wrap Technologies during the fourth quarter valued at about $126,000. Barclays PLC acquired a new position in Wrap Technologies in the 4th quarter valued at approximately $96,000. State Street Corp grew its holdings in shares of Wrap Technologies by 16.2% during the 4th quarter. State Street Corp now owns 129,667 shares of the company’s stock worth $309,000 after purchasing an additional 18,100 shares in the last quarter. Finally, Jane Street Group LLC increased its position in shares of Wrap Technologies by 417.6% during the fourth quarter. Jane Street Group LLC now owns 120,272 shares of the company’s stock valued at $286,000 after purchasing an additional 97,035 shares during the period. 8.82% of the stock is owned by institutional investors.

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.