Wrap Technologies (NASDAQ:WRAP) Issues Earnings Results

Key Points

• Wrap Technologies reported quarterly earnings of ($0.07) EPS, indicating a negative return on equity of 180.13% and a negative net margin of 155.10%.
• The company's stock experienced a 6.3% increase during midday trading, reaching a price of $1.51 with a market cap of $76.37 million.
• Insider Elwood G. Norris sold 30,000 shares of the company for $1.68 each, reducing his ownership by 3.34% and leaving him with approximately 867,100 shares.

Wrap Technologies (NASDAQ:WRAP - Get Free Report) issued its quarterly earnings data on Thursday. The company reported ($0.07) earnings per share (EPS) for the quarter, Zacks reports. Wrap Technologies had a negative return on equity of 180.13% and a negative net margin of 155.10%.

Wrap Technologies Trading Up 6.3%

Shares of NASDAQ WRAP traded up $0.09 during midday trading on Thursday, hitting $1.51. The company's stock had a trading volume of 440,093 shares, compared to its average volume of 173,248. The business's 50 day moving average is $1.46 and its two-hundred day moving average is $1.66. The firm has a market cap of $76.37 million, a P/E ratio of -10.07 and a beta of 1.27. Wrap Technologies has a 12-month low of $1.20 and a 12-month high of $2.58.

Insider Activity

In other news, major shareholder Elwood G. Norris sold 30,000 shares of the firm's stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $1.68, for a total transaction of $50,400.00. Following the transaction, the insider owned 867,100 shares in the company, valued at approximately $1,456,728. This trade represents a 3.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 18.57% of the company's stock.

Institutional Investors Weigh In On Wrap Technologies

A hedge fund recently bought a new stake in Wrap Technologies stock. XTX Topco Ltd purchased a new position in Wrap Technologies, Inc. (NASDAQ:WRAP - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 20,266 shares of the company's stock, valued at approximately $32,000. 8.82% of the stock is owned by hedge funds and other institutional investors.

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.

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