Wrap Technologies (NASDAQ:WRAP) Major Shareholder Elwood Norris Sells 80,000 Shares of Stock

Wrap Technologies, Inc. (NASDAQ:WRAP) major shareholder Elwood Norris sold 80,000 shares of the firm’s stock in a transaction on Thursday, January 29th. The stock was sold at an average price of $2.21, for a total transaction of $176,800.00. Following the transaction, the insider directly owned 5,303,033 shares of the company’s stock, valued at approximately $11,719,702.93. This trade represents a 1.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Wrap Technologies Stock Performance

Shares of WRAP opened at $2.03 on Wednesday. The business’s 50-day moving average is $2.46 and its two-hundred day moving average is $2.16. The company has a market capitalization of $104.57 million, a P/E ratio of -6.77 and a beta of 1.46. Wrap Technologies, Inc. has a fifty-two week low of $1.20 and a fifty-two week high of $3.23.

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

Institutional Trading of Wrap Technologies

Institutional investors and hedge funds have recently modified their holdings of the stock. Raymond James Financial Inc. raised its position in shares of 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 purchasing an additional 36,429 shares during the last quarter. Squarepoint Ops LLC raised its holdings in shares of Wrap Technologies by 45.3% during the third quarter. Squarepoint Ops LLC now owns 50,209 shares of the company’s stock valued at $109,000 after acquiring an additional 15,650 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Wrap Technologies by 6.3% in the third quarter. Vanguard Group Inc. now owns 1,660,908 shares of the company’s stock valued at $3,604,000 after acquiring an additional 98,782 shares in the last quarter. Osaic Holdings Inc. lifted its position 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 valued at $84,000 after acquiring an additional 6,442 shares in the last quarter. Finally, XTX Topco Ltd acquired a new stake in shares of Wrap Technologies in the second quarter worth approximately $32,000. Hedge funds and other institutional investors own 8.82% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.