Elwood Norris Sells 27,104 Shares of Wrap Technologies (NASDAQ:WRAP) Stock

Key Points

• Elwood Norris sold 27,104 shares of Wrap Technologies on February 10 at an average price of $1.82 for $49,329.28, leaving him with 5,113,938 shares (a 0.53% decrease) valued at about $9.31 million.
• Wrap reported quarterly EPS of ($0.08), beating estimates by $0.02 while revenue of $1.40 million missed expectations, and the company remains unprofitable with a negative ROE (103.50%) and net margin (-198.63%).
• The stock traded at $1.46 (down $0.03) with a market cap of ~$80.97 million and a 12‑month range of $1.20–$3.23; analyst consensus is a Sell (Weiss Ratings reaffirmed a "sell (d-)"), and institutional ownership is about 8.82% with several funds recently adjusting positions.

Wrap Technologies, Inc. (NASDAQ:WRAP - Get Free Report) major shareholder Elwood Norris sold 27,104 shares of Wrap Technologies stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $1.82, for a total value of $49,329.28. Following the completion of the transaction, the insider owned 5,113,938 shares in the company, valued at $9,307,367.16. This represents a 0.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Large shareholders that own 10% or more of a company's shares are required to disclose their transactions with the SEC.

Wrap Technologies Stock Performance

WRAP stock traded down $0.03 on Tuesday, hitting $1.46. 203,097 shares of the company's stock were exchanged, compared to its average volume of 369,074. Wrap Technologies, Inc. has a 12-month low of $1.20 and a 12-month high of $3.23. The firm has a 50 day moving average price of $1.55 and a two-hundred day moving average price of $2.06. The stock has a market cap of $80.97 million, a P/E ratio of -6.95 and a beta of 1.41.

Wrap Technologies (NASDAQ:WRAP - Get Free Report) last issued its quarterly earnings results on Thursday, March 26th. The company reported ($0.08) EPS for the quarter, topping analysts' consensus estimates of ($0.10) by $0.02. The company had revenue of $1.40 million during the quarter, compared to analysts' expectations of $1.61 million. Wrap Technologies had a negative return on equity of 103.50% and a negative net margin of 198.63%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in Wrap Technologies by 6.3% in the third quarter. Vanguard Group Inc. now owns 1,660,908 shares of the company's stock worth $3,604,000 after acquiring an additional 98,782 shares during the period. Raymond James Financial Inc. grew its position in Wrap Technologies by 6.0% in the third quarter. Raymond James Financial Inc. now owns 646,853 shares of the company's stock worth $1,404,000 after acquiring an additional 36,429 shares during the period. Geode Capital Management LLC grew its position in Wrap Technologies by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 407,287 shares of the company's stock worth $970,000 after acquiring an additional 6,340 shares during the period. Renaissance Technologies LLC grew its position in Wrap Technologies by 236.0% in the fourth quarter. Renaissance Technologies LLC now owns 156,900 shares of the company's stock worth $373,000 after acquiring an additional 110,200 shares during the period. Finally, State Street Corp boosted its position in shares of Wrap Technologies by 16.2% during the fourth quarter. State Street Corp now owns 129,667 shares of the company's stock worth $309,000 after buying an additional 18,100 shares during the period. 8.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Wrap Technologies in a report on Wednesday, April 8th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently 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.

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