Wrap Technologies (NASDAQ:WRAP) Major Shareholder Elwood Norris Sells 40,000 Shares

Wrap Technologies, Inc. (NASDAQ:WRAP) major shareholder Elwood Norris sold 40,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 14th. The stock was sold at an average price of $2.56, for a total transaction of $102,400.00. Following the sale, the insider directly owned 607,738 shares in the company, valued at approximately $1,555,809.28. The trade was a 6.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Wrap Technologies Stock Down 8.1%

WRAP stock traded down $0.20 during midday trading on Thursday, hitting $2.28. The company’s stock had a trading volume of 447,625 shares, compared to its average volume of 397,440. The firm has a 50-day simple moving average of $2.46 and a 200-day simple moving average of $2.13. The firm has a market capitalization of $117.44 million, a P/E ratio of -7.60 and a beta of 1.43. Wrap Technologies, Inc. has a 52-week low of $1.20 and a 52-week high of $3.23.

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

Analysts Set New Price Targets

A number of research analysts recently issued reports on WRAP shares. Wall Street Zen upgraded shares of Wrap Technologies from a “sell” rating to a “hold” rating in a research note on Friday, October 3rd. 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, Wrap Technologies currently has a consensus rating of “Sell”.

Institutional Investors Weigh In On Wrap Technologies

Institutional investors and hedge funds have recently bought and sold shares of the stock. XTX Topco Ltd purchased a new position in shares of Wrap Technologies during the second quarter worth about $32,000. Osaic Holdings Inc. lifted its holdings in shares of Wrap Technologies by 13.6% in the 2nd 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. acquired a new stake in shares of Wrap Technologies in the 2nd quarter valued at about $103,000. Squarepoint Ops LLC boosted 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 purchasing an additional 15,650 shares during the period. Finally, Raymond James Financial Inc. grew its stake in Wrap Technologies by 6.0% during the 3rd 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. 8.82% of the stock is owned by hedge funds and other institutional investors.

Wrap Technologies News Roundup

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

• Positive Sentiment: Launched a next‑generation, U.S.‑produced, NDAA‑compliant WrapVision body‑worn camera platform (IONODES PERCEPT BC200). This targets regulated public‑safety and enterprise procurement (NDAA compliance and U.S. country‑of‑origin improve eligibility for many government contracts). Wrap Advances WrapVision (GlobeNewswire)
• Neutral Sentiment: Technicals and trading: volume is modestly above average and the stock sits between its 50‑day (~$2.46) and 200‑day (~$2.13) moving averages — a mixed technical picture that can amplify moves from news or insider activity.
• Negative Sentiment: Significant insider selling by major shareholder Elwood G. Norris across many transactions (Oct–Nov filings show repeated large share sales and material reductions in his holdings). Heavy, disclosed sales by a >10% holder can increase supply and signal reduced insider conviction, pressuring the share price. SEC Insider Sale Filings
• Negative Sentiment: Recent fundamentals remain weak: last reported quarter showed a small loss per share, negative margins and limited revenue (~$3.5M), which keeps investor focus on cash‑flow and contract wins rather than near‑term profitability.

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.