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

Key Points

• Call-option activity surged: Investors purchased 8,282 WRAP call options, 690% above the average daily volume of 1,048 contracts.
• Insider buying increased: Director John D. Shulman bought 100,000 shares at $1.10 each, more than doubling his position; insiders own 33.26% of the company.
• Shares declined amid weak sentiment: WRAP fell 4.3% to $1.66, while analysts maintain a consensus “Sell” rating. The company beat quarterly loss estimates but reported revenue below forecasts and continues to post substantial net losses.

Wrap Technologies, Inc. (NASDAQ:WRAP - Get Free Report) saw unusually large options trading activity on Wednesday. Investors bought 8,282 call options on the stock. This represents an increase of 690% compared to the average daily volume of 1,048 call options.

Insider Activity

In other news, Director John D. Shulman acquired 100,000 shares of the stock in a transaction on Wednesday, July 8th. The shares were purchased at an average cost of $1.10 per share, for a total transaction of $110,000.00. Following the transaction, the director owned 199,037 shares in the company, valued at approximately $218,940.70. This trade represents a 100.97% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 33.26% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. XTX Topco Ltd acquired a new stake in shares of Wrap Technologies during the second quarter worth $32,000. Osaic Holdings Inc. lifted its holdings in shares of 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. Vanguard Group Inc. boosted its holdings in Wrap Technologies by 6.3% in the third quarter. Vanguard Group Inc. now owns 1,660,908 shares of the company's stock valued at $3,604,000 after acquiring an additional 98,782 shares during the last quarter. Squarepoint Ops LLC boosted its position in Wrap Technologies by 45.3% during the third 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 during the last quarter. Finally, Raymond James Financial Inc. grew its position in shares of Wrap Technologies by 6.0% during the 3rd quarter. Raymond James Financial Inc. now owns 646,853 shares of the company's stock worth $1,404,000 after buying an additional 36,429 shares during the period. 8.82% of the stock is owned by institutional investors and hedge funds.

Wrap Technologies Trading Down 4.3%

Shares of WRAP traded down $0.07 during trading hours on Wednesday, hitting $1.66. 323,183 shares of the stock traded hands, compared to its average volume of 912,986. The firm has a market capitalization of $92.25 million, a PE ratio of -5.52 and a beta of 1.37. Wrap Technologies has a 1-year low of $1.04 and a 1-year high of $3.23. The business has a fifty day moving average of $1.53 and a 200-day moving average of $1.69.

Wrap Technologies (NASDAQ:WRAP - Get Free Report) last released its earnings results on Wednesday, May 13th. The company reported ($0.09) EPS for the quarter, topping analysts' consensus estimates of ($0.10) by $0.01. The firm had revenue of $1.11 million during the quarter, compared to analyst estimates of $1.61 million. Wrap Technologies had a negative net margin of 270.03% and a negative return on equity of 115.68%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Wall Street Zen lowered shares of Wrap Technologies from a "hold" rating to a "sell" rating in a research report on Saturday, May 16th. Weiss Ratings lowered Wrap Technologies from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Monday, May 18th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has a consensus rating of "Sell".

About Wrap Technologies

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.