Insider Buying: Wrap Technologies (NASDAQ:WRAP) CEO Buys $23,914.00 in Stock

Key Points

• CEO Scot Cohen bought 21,740 shares of Wrap Technologies at $1.10 each, totaling about $23,914, increasing his stake by 0.32% to 6.8 million shares.
• WRAP stock jumped 48.4% to $2.36 in Thursday trading, with volume far above average, while the company’s market cap stood around $131.6 million.
• Wrap Technologies recently reported a smaller-than-expected quarterly loss, but revenue of $1.11 million missed estimates; analysts currently have an overall Sell rating on the stock.

Wrap Technologies, Inc. (NASDAQ:WRAP - Get Free Report) CEO Scot Cohen bought 21,740 shares of the company's stock in a transaction dated Wednesday, July 8th. The shares were acquired at an average cost of $1.10 per share, for a total transaction of $23,914.00. Following the completion of the transaction, the chief executive officer owned 6,798,908 shares of the company's stock, valued at approximately $7,478,798.80. The trade was a 0.32% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Wrap Technologies Stock Up 48.4%

WRAP stock traded up $0.77 during trading on Thursday, hitting $2.36. 61,127,738 shares of the company's stock traded hands, compared to its average volume of 334,247. Wrap Technologies, Inc. has a 52 week low of $1.04 and a 52 week high of $3.23. The stock has a fifty day moving average price of $1.40 and a two-hundred day moving average price of $1.73. The stock has a market capitalization of $131.55 million, a price-to-earnings ratio of -7.87 and a beta of 1.37.

Wrap Technologies (NASDAQ:WRAP - Get Free Report) last posted its earnings results on Wednesday, May 13th. The company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.01. Wrap Technologies had a negative return on equity of 115.68% and a negative net margin of 270.03%.The company had revenue of $1.11 million during the quarter, compared to analyst estimates of $1.61 million.

Hedge Funds Weigh In On Wrap Technologies

Large investors have recently added to or reduced their stakes in the company. HRT Financial LP acquired a new stake in Wrap Technologies during the fourth quarter worth approximately $27,000. XTX Topco Ltd bought a new position in Wrap Technologies during the 2nd quarter worth approximately $32,000. Osaic Holdings Inc. raised its position 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 worth $84,000 after acquiring an additional 6,442 shares in the last quarter. Barclays PLC acquired a new position in shares of Wrap Technologies in the 4th quarter valued at about $96,000. Finally, Squarepoint Ops LLC boosted its position in shares of Wrap Technologies by 45.3% during 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 in the last quarter. Institutional investors own 8.82% of the company's stock.

Wall Street Analyst Weigh In

WRAP has been the topic of a number of recent analyst reports. Weiss Ratings cut Wrap Technologies from a "sell (d-)" rating to a "sell (e+)" rating in a report on Monday, May 18th. Wall Street Zen cut Wrap Technologies from a "hold" rating to a "sell" rating in a research note on Saturday, May 16th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has an average 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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