Wrap Technologies, Inc. (NASDAQ:WRAP) Major Shareholder Sells $50,400.00 in Stock

Wrap Technologies, Inc. (NASDAQ:WRAP - Get Free Report) major shareholder Elwood G. Norris sold 30,000 shares of the business's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $1.68, for a total transaction of $50,400.00. Following the completion of the transaction, the insider now directly owns 867,100 shares of the company's stock, valued at approximately $1,456,728. This represents a 3.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own 10% or more of a company's shares are required to disclose their sales and purchases with the SEC.

Wrap Technologies Stock Performance

NASDAQ:WRAP traded down $0.03 during trading hours on Friday, reaching $1.50. The company's stock had a trading volume of 134,084 shares, compared to its average volume of 180,806. The firm has a market capitalization of $75.82 million, a price-to-earnings ratio of -9.93 and a beta of 1.26. The firm has a 50-day simple moving average of $1.50 and a 200-day simple moving average of $1.79. Wrap Technologies, Inc. has a 1 year low of $1.30 and a 1 year high of $2.58.

Wrap Technologies (NASDAQ:WRAP - Get Free Report) last announced its quarterly earnings results on Monday, March 31st. The company reported ($0.17) earnings per share (EPS) for the quarter. The firm had revenue of $0.86 million during the quarter. Wrap Technologies had a negative return on equity of 180.13% and a negative net margin of 155.10%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Raymond James Financial Inc. purchased a new stake in Wrap Technologies in the fourth quarter worth $1,906,000. Caption Management LLC grew its position in shares of Wrap Technologies by 1,083.0% in the 4th quarter. Caption Management LLC now owns 162,462 shares of the company's stock worth $344,000 after buying an additional 178,990 shares during the period. Marshall Wace LLP bought a new position in shares of Wrap Technologies in the 4th quarter worth about $271,000. Jane Street Group LLC bought a new position in shares of Wrap Technologies in the 4th quarter worth about $70,000. Finally, XTX Topco Ltd purchased a new position in Wrap Technologies during the 4th quarter valued at about $58,000. Institutional investors own 8.82% of the company's stock.

Wrap Technologies Company Profile

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.