Scot Cohen Sells 96,989 Shares of Wrap Technologies (NASDAQ:WRAP) Stock

Key Points

• Wrap Technologies CEO Scot Cohen sold 96,989 shares of the company on August 29th for an average price of $1.31, decreasing his total shareholding by 1.52%.
• The company's stock traded at $1.58 after a 3.9% increase in value, with a market capitalization of $80.30 million.
• Wall Street analysts downgraded Wrap Technologies from a "hold" rating to a "sell" rating" on August 16th due to ongoing performance concerns.

Wrap Technologies, Inc. (NASDAQ:WRAP - Get Free Report) CEO Scot Cohen sold 96,989 shares of Wrap Technologies stock in a transaction on Friday, August 29th. The shares were sold at an average price of $1.31, for a total value of $127,055.59. Following the completion of the sale, the chief executive officer directly owned 6,275,356 shares of the company's stock, valued at approximately $8,220,716.36. This represents a 1.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Wrap Technologies Stock Up 4.1%

WRAP stock traded up $0.07 during mid-day trading on Monday, reaching $1.78. 326,339 shares of the stock traded hands, compared to its average volume of 186,275. The firm has a market capitalization of $90.46 million, a PE ratio of -8.85 and a beta of 1.35. Wrap Technologies, Inc. has a 52 week low of $1.20 and a 52 week high of $2.58. The business has a 50-day moving average of $1.42 and a two-hundred day moving average of $1.58.

Wrap Technologies (NASDAQ:WRAP - Get Free Report) last issued its earnings results on Thursday, August 14th. The company reported ($0.07) earnings per share (EPS) for the quarter. Wrap Technologies had a negative net margin of 285.43% and a negative return on equity of 175.85%. The firm had revenue of $1.01 million during the quarter.

Institutional Trading of Wrap Technologies

A number of institutional investors and hedge funds have recently modified their holdings of WRAP. Osaic Holdings Inc. boosted its position in Wrap Technologies by 13.6% during the second quarter. Osaic Holdings Inc. now owns 53,708 shares of the company's stock worth $84,000 after purchasing an additional 6,442 shares during the period. XTX Topco Ltd purchased a new position in Wrap Technologies in the 2nd quarter worth approximately $32,000. Jane Street Group LLC bought a new stake in Wrap Technologies in the fourth quarter worth $70,000. Thompson Davis & CO. Inc. purchased a new stake in shares of Wrap Technologies during the second quarter worth about $103,000. Finally, Caption Management LLC grew its stake in Wrap Technologies by 1,083.0% during the 4th quarter. Caption Management LLC now owns 162,462 shares of the company's stock valued at $344,000 after purchasing an additional 178,990 shares during the last quarter. 8.82% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Wall Street Zen cut shares of Wrap Technologies from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th.

About Wrap Technologies

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.