Wrap Technologies (NASDAQ:WRAP) Major Shareholder Elwood Norris Sells 5,000 Shares

Wrap Technologies, Inc. (NASDAQ:WRAP) major shareholder Elwood Norris sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, October 27th. The stock was sold at an average price of $2.65, for a total transaction of $13,250.00. Following the sale, the insider owned 339,866 shares in the company, valued at $900,644.90. The trade was a 1.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Wrap Technologies Stock Down 8.1%

Wrap Technologies stock traded down $0.20 during trading on Thursday, reaching $2.28. The stock had a trading volume of 447,625 shares, compared to its average volume of 397,440. Wrap Technologies, Inc. has a 52-week low of $1.20 and a 52-week high of $3.23. The stock has a market cap of $117.44 million, a PE ratio of -7.60 and a beta of 1.43. The business has a 50 day moving average price of $2.46 and a 200 day moving average price of $2.13.

Wrap Technologies (NASDAQ:WRAP) last announced its quarterly earnings data 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%.

Analysts Set New Price Targets

WRAP has been the subject of several analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Wrap Technologies in a research report on Friday, January 9th. Wall Street Zen upgraded Wrap Technologies from a “sell” rating to a “hold” rating in a research note on Friday, October 3rd. One analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has a consensus rating of “Sell”.

Hedge Funds Weigh In On Wrap Technologies

Hedge funds have recently made changes to their positions in the company. XTX Topco Ltd purchased a new stake in shares of Wrap Technologies in the 2nd quarter valued at about $32,000. Osaic Holdings Inc. grew its stake in Wrap Technologies by 13.6% during the 2nd 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 last quarter. Thompson Davis & CO. Inc. acquired a new position in Wrap Technologies during the second quarter worth approximately $103,000. Squarepoint Ops LLC lifted its stake in Wrap Technologies by 45.3% in the third quarter. Squarepoint Ops LLC now owns 50,209 shares of the company’s stock valued at $109,000 after buying an additional 15,650 shares during the last quarter. Finally, Raymond James Financial Inc. lifted its stake in Wrap Technologies by 6.0% in 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 last quarter. Hedge funds and other institutional investors own 8.82% of the company’s stock.

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.