Wrap Technologies, Inc. (NASDAQ:WRAP) Short Interest Update

Key Points

• Short interest in Wrap Technologies, Inc. surged by 743.9% in July, reaching a total of 5,310,000 shares as of July 15th.
• Major shareholder Elwood G. Norris sold 30,000 shares at an average price of $1.68, resulting in a 3.34% decrease in his ownership position.
• Wrap Technologies' stock is currently trading at $1.34, reflecting a 2.2% decline and a market capitalization of approximately $67.78 million.

Wrap Technologies, Inc. (NASDAQ:WRAP - Get Free Report) saw a significant increase in short interest in July. As of July 15th, there was short interest totaling 5,310,000 shares, anincreaseof743.9% from the June 30th total of 629,200 shares. Approximately15.8% of the shares of the stock are short sold. Based on an average trading volume of 159,300 shares, the short-interest ratio is currently 33.3 days. Based on an average trading volume of 159,300 shares, the short-interest ratio is currently 33.3 days. Approximately15.8% of the shares of the stock are short sold.

Insider Buying and Selling

In related news, major shareholder Elwood G. Norris sold 30,000 shares of the business's stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $1.68, for a total transaction of $50,400.00. Following the completion of the transaction, the insider owned 867,100 shares of the company's stock, valued at approximately $1,456,728. The trade was a 3.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 18.57% of the company's stock.

Institutional Investors Weigh In On Wrap Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WRAP. Geode Capital Management LLC grew its position in shares of Wrap Technologies by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 349,596 shares of the company's stock worth $741,000 after buying an additional 5,195 shares during the period. Two Sigma Securities LLC purchased a new stake in shares of Wrap Technologies in the 4th quarter worth about $33,000. XTX Topco Ltd purchased a new stake in shares of Wrap Technologies in the 4th quarter worth about $58,000. Jane Street Group LLC purchased a new stake in shares of Wrap Technologies in the 4th quarter worth about $70,000. Finally, Marshall Wace LLP purchased a new stake in shares of Wrap Technologies in the 4th quarter worth about $271,000. 8.82% of the stock is currently owned by institutional investors.

Wrap Technologies Trading Up 0.8%

Shares of WRAP traded up $0.01 during mid-day trading on Tuesday, reaching $1.33. The company's stock had a trading volume of 87,850 shares, compared to its average volume of 169,225. The stock has a market cap of $67.27 million, a PE ratio of -8.87 and a beta of 1.27. Wrap Technologies has a 52 week low of $1.27 and a 52 week high of $2.58. The company's fifty day moving average price is $1.48 and its two-hundred day moving average price is $1.69.

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.