Stock Traders Buy Large Volume of Wrap Technologies Call Options (NASDAQ:WRAP)

Key Points

• Unusual options activity: Traders bought 7,521 call options on Wrap Technologies, about 1,568% above the typical daily volume of 451 calls.
• Stock and earnings update: WRAP shares rose to $2.19 on heavy trading, and the company recently beat EPS estimates by $0.01, though revenue came in below expectations at $1.11 million.
• Sentiment remains weak: Recent analyst actions lowered Wrap Technologies to a Sell rating, with the stock now carrying an overall average rating of "Sell."

Wrap Technologies, Inc. (NASDAQ:WRAP - Get Free Report) saw some unusual options trading on Thursday. Stock investors acquired 7,521 call options on the company. This is an increase of approximately 1,568% compared to the typical daily volume of 451 call options.

Analyst Upgrades and Downgrades

WRAP has been the topic of a number of recent analyst reports. Weiss Ratings lowered shares of Wrap Technologies from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Monday, May 18th. Wall Street Zen lowered shares of 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, the stock currently has an average rating of "Sell".

Wrap Technologies Price Performance

WRAP stock traded up $0.59 during trading on Thursday, reaching $2.19. 24,474,013 shares of the stock traded hands, compared to its average volume of 470,137. The business's 50 day moving average price is $1.38 and its 200-day moving average price is $1.73. Wrap Technologies has a 52-week low of $1.04 and a 52-week high of $3.23. The firm has a market capitalization of $121.79 million, a PE ratio of -7.36 and a beta of 1.37.

Wrap Technologies (NASDAQ:WRAP - Get Free Report) last posted its quarterly earnings data on Wednesday, May 13th. The company reported ($0.09) earnings per share for the quarter, beating 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 company had revenue of $1.11 million during the quarter, compared to analysts' expectations of $1.61 million.

Institutional Trading of Wrap Technologies

Several large investors have recently added to or reduced their stakes in WRAP. HRT Financial LP acquired a new position in shares of Wrap Technologies during the fourth quarter valued at $27,000. XTX Topco Ltd bought a new stake in shares of Wrap Technologies during the second quarter worth $32,000. Barclays PLC bought a new stake in shares of Wrap Technologies in the fourth quarter valued at about $96,000. Squarepoint Ops LLC lifted its stake in Wrap Technologies by 45.3% in the 3rd quarter. Squarepoint Ops LLC now owns 50,209 shares of the company's stock valued at $109,000 after acquiring an additional 15,650 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp acquired a new position in Wrap Technologies during the fourth quarter worth $126,000. 8.82% of the stock is owned by institutional investors.

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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