Insider Selling: Wrap Technologies, Inc. (NASDAQ:WRAP) Major Shareholder Sells 30,000 Shares of Stock

Wrap Technologies, Inc. (NASDAQ:WRAP - Get Free Report) major shareholder Elwood G. Norris sold 30,000 shares of the firm's stock in a transaction dated Wednesday, June 11th. The shares were 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 in the company, valued at approximately $1,456,728. The trade was a 3.34% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Large shareholders that own more than 10% of a company's shares are required to disclose their sales and purchases with the SEC.

Wrap Technologies Stock Performance

WRAP traded down $0.07 during midday trading on Tuesday, reaching $1.63. 191,170 shares of the company were exchanged, compared to its average volume of 183,482. The company has a market cap of $82.44 million, a price-to-earnings ratio of -3.88 and a beta of 1.26. Wrap Technologies, Inc. has a one year low of $1.22 and a one year high of $2.58. The company's fifty day moving average price is $1.50 and its 200 day moving average price is $1.79.

Wrap Technologies (NASDAQ:WRAP - Get Free Report) last posted its quarterly earnings data on Monday, March 31st. The company reported ($0.17) earnings per share (EPS) for the quarter. Wrap Technologies had a negative return on equity of 480.59% and a negative net margin of 394.21%. The firm had revenue of $0.86 million for the quarter.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new stake in Wrap Technologies in the 4th quarter valued at about $1,906,000. Geode Capital Management LLC grew its holdings in shares of Wrap Technologies by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 349,596 shares of the company's stock valued at $741,000 after acquiring an additional 5,195 shares in the last quarter. Caption Management LLC increased its position in shares of Wrap Technologies by 1,083.0% during the fourth quarter. Caption Management LLC now owns 162,462 shares of the company's stock valued at $344,000 after acquiring an additional 178,990 shares during the last quarter. Marshall Wace LLP purchased a new stake in shares of Wrap Technologies during the fourth quarter valued at approximately $271,000. Finally, Jane Street Group LLC bought a new stake in Wrap Technologies during the fourth quarter worth $70,000. 8.82% of the stock is currently owned by hedge funds and other institutional investors.

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.

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