Insider Selling: Wrap Technologies (NASDAQ:WRAP) CEO Sells 96,989 Shares of 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 the company's stock in a transaction that occurred on Friday, August 29th. The stock was 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 owned 6,275,356 shares in the company, valued at approximately $8,220,716.36. This represents a 1.52% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Wrap Technologies Trading Up 3.9%

Wrap Technologies stock traded up $0.06 during mid-day trading on Wednesday, hitting $1.58. The company had a trading volume of 389,139 shares, compared to its average volume of 218,793. Wrap Technologies, Inc. has a 12-month low of $1.20 and a 12-month high of $2.58. The company has a market capitalization of $80.30 million, a price-to-earnings ratio of -7.90 and a beta of 1.35. The company's fifty day moving average is $1.41 and its 200-day moving average is $1.60.

Wrap Technologies (NASDAQ:WRAP - Get Free Report) last announced 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 business had revenue of $1.01 million for the quarter.

Institutional Investors Weigh In On Wrap Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. XTX Topco Ltd purchased a new stake in Wrap Technologies in the second quarter valued at approximately $32,000. Jane Street Group LLC acquired a new position in Wrap Technologies during the fourth quarter worth $70,000. Thompson Davis & CO. Inc. acquired a new position in Wrap Technologies during the second quarter worth $103,000. Finally, Caption Management LLC grew its holdings in Wrap Technologies by 1,083.0% during the fourth quarter. Caption Management LLC now owns 162,462 shares of the company's stock worth $344,000 after acquiring an additional 178,990 shares during the period. Hedge funds and other institutional investors own 8.82% of the company's stock.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded Wrap Technologies from a "hold" rating to a "sell" rating in a research report on Saturday, August 16th.

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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