Wrap Technologies (NASDAQ:WRAP) Releases Earnings Results

Wrap Technologies (NASDAQ:WRAP) released its earnings results on Wednesday. The company reported ($0.06) earnings per share for the quarter, Zacks reports. Wrap Technologies had a negative net margin of 285.43% and a negative return on equity of 175.85%.

Wrap Technologies Price Performance

Shares of NASDAQ WRAP traded down $0.14 during trading on Wednesday, reaching $2.10. 391,617 shares of the stock traded hands, compared to its average volume of 235,613. The stock has a market capitalization of $108.17 million, a P/E ratio of -10.50 and a beta of 1.34. Wrap Technologies has a 52-week low of $1.20 and a 52-week high of $3.00. The company has a 50-day moving average of $2.36 and a 200-day moving average of $1.77.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on WRAP. Weiss Ratings reissued a “sell (d-)” rating on shares of Wrap Technologies in a research note on Tuesday, October 14th. Wall Street Zen upgraded Wrap Technologies from a “sell” rating to a “hold” rating in a report on Friday, October 3rd. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

Insider Buying and Selling

In other news, CEO Scot Cohen sold 96,989 shares of the company’s stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $1.31, for a total value of $127,055.59. Following the completion of the transaction, the chief executive officer directly owned 6,275,356 shares in the company, valued at approximately $8,220,716.36. This represents a 1.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 18.57% of the stock is currently owned by corporate insiders.

Institutional Trading of Wrap Technologies

Large investors have recently modified their holdings of the business. XTX Topco Ltd bought a new position in shares of Wrap Technologies in the 2nd quarter worth approximately $32,000. Osaic Holdings Inc. lifted its holdings in Wrap Technologies by 13.6% during the second 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 in the last quarter. Finally, Vanguard Group Inc. increased its holdings in Wrap Technologies by 6.3% in the 3rd 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 during the last quarter. 8.82% of the stock is owned by institutional investors.

About Wrap Technologies

Wrap Technologies, Inc, a public safety technology and services company, develops policing solutions to law enforcement and security personnel. The company's flagship product is BolaWrap 150, a handheld remote restraint device that discharges a seven and a half-foot Kevlar tether, entangling an individual from a range of 10-25 feet.