Insider Buying: Wrap Technologies (NASDAQ:WRAP) Director Purchases 100,000 Shares of Stock

Key Points

• Director John Shulman bought 100,000 shares of Wrap Technologies at an average price of $1.10 per share, a $110,000 transaction that more than doubled his stake.
• After the purchase, Shulman owned 199,037 shares valued at about $218,941, reflecting a 100.97% increase in his ownership position.
• The stock jumped to $2.36 on Thursday with unusually heavy volume, while analyst sentiment remains cautious with a consensus rating of “Sell”.

Wrap Technologies, Inc. (NASDAQ:WRAP - Get Free Report) Director John Shulman acquired 100,000 shares of Wrap Technologies stock in a transaction that occurred on Wednesday, July 8th. The stock was acquired at an average cost of $1.10 per share, for a total transaction of $110,000.00. Following the purchase, the director owned 199,037 shares of the company's stock, valued at $218,940.70. The trade was a 100.97% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Wrap Technologies Stock Performance

Shares of NASDAQ:WRAP traded up $0.77 during trading on Thursday, reaching $2.36. The stock had a trading volume of 61,127,738 shares, compared to its average volume of 334,247. The firm's fifty day moving average is $1.40 and its 200 day moving average is $1.73. Wrap Technologies, Inc. has a 52 week low of $1.04 and a 52 week high of $3.23. The stock has a market cap 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 announced its earnings results on Wednesday, May 13th. The company reported ($0.09) earnings per share for the quarter, topping analysts' consensus estimates of ($0.10) by $0.01. Wrap Technologies had a negative net margin of 270.03% and a negative return on equity of 115.68%. The business had revenue of $1.11 million during the quarter, compared to the consensus estimate of $1.61 million.

Analyst Ratings Changes

Several research firms recently commented on WRAP. Weiss Ratings cut Wrap Technologies from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Monday, May 18th. Wall Street Zen lowered Wrap Technologies from a "hold" rating to a "sell" rating in a research note on Saturday, May 16th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Sell".

Hedge Funds Weigh In On Wrap Technologies

Institutional investors have recently made changes to their positions in the stock. HRT Financial LP acquired a new stake in shares of Wrap Technologies in the 4th quarter valued at about $27,000. XTX Topco Ltd acquired a new position in Wrap Technologies during the 2nd quarter worth approximately $32,000. Barclays PLC bought a new position in Wrap Technologies in the fourth quarter worth approximately $96,000. Squarepoint Ops LLC boosted its holdings in Wrap Technologies by 45.3% in the third quarter. Squarepoint Ops LLC now owns 50,209 shares of the company's stock worth $109,000 after acquiring an additional 15,650 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp acquired a new stake in Wrap Technologies in the fourth quarter valued at approximately $126,000. Institutional investors and hedge funds own 8.82% of the company's stock.

Wrap Technologies Company Profile

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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