Weiss Ratings Reaffirms "Sell (D-)" Rating for Wrap Technologies (NASDAQ:WRAP)

Key Points

• Weiss Ratings has reaffirmed a "Sell (D-)" rating for Wrap Technologies (NASDAQ:WRAP), indicating a continued negative outlook on the stock.
• Despite Weiss Ratings' negative stance, Wall Street Zen recently upgraded the company's rating from "sell" to "hold."
• Wrap Technologies reported negative financials with a net margin of -285.43% and a P/E ratio of -12.70, raising concerns among investors.

Wrap Technologies (NASDAQ:WRAP - Get Free Report)'s stock had its "sell (d-)" rating reiterated by Weiss Ratings in a report issued on Tuesday,Weiss Ratings reports.

Separately, Wall Street Zen upgraded Wrap Technologies from a "sell" rating to a "hold" rating in a report on Friday, October 3rd. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has a consensus rating of "Sell".

Wrap Technologies Price Performance

Shares of WRAP traded up $0.06 during mid-day trading on Tuesday, reaching $2.57. 125,141 shares of the company's stock traded hands, compared to its average volume of 224,815. The stock has a market cap of $130.35 million, a P/E ratio of -12.70 and a beta of 1.39. The stock's 50-day moving average is $1.89 and its two-hundred day moving average is $1.63. Wrap Technologies has a 12 month low of $1.20 and a 12 month high of $3.00.

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

Insiders Place Their Bets

In other Wrap Technologies news, CEO Scot Cohen sold 96,989 shares of the company's stock in a transaction on Friday, August 29th. The stock was sold at an average price of $1.31, for a total transaction of $127,055.59. Following the completion of the sale, the chief executive officer owned 6,275,356 shares in the company, valued at $8,220,716.36. This represents a 1.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 18.57% of the stock is currently owned by corporate insiders.

Institutional Trading of Wrap Technologies

Hedge funds have recently bought and sold shares of the stock. Osaic Holdings Inc. increased its position 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 in the last quarter. XTX Topco Ltd acquired a new position in shares of Wrap Technologies during the second quarter worth $32,000. Finally, Thompson Davis & CO. Inc. acquired a new position in shares of Wrap Technologies during the second quarter worth $103,000. Hedge funds and other institutional investors own 8.82% of the company's stock.

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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