Wrap Technologies (NASDAQ:WRAP) Posts Quarterly 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) EPS for the quarter, Zacks reports. The company had revenue of $1.01 million for the quarter. Wrap Technologies had a negative return on equity of 175.85% and a negative net margin of 285.43%.

Wrap Technologies Trading Down 9.3%

Shares of WRAP traded down $0.13 on Tuesday, reaching $1.27. 277,401 shares of the company's stock traded hands, compared to its average volume of 179,694. The stock's 50 day simple moving average is $1.46 and its two-hundred day simple moving average is $1.64. Wrap Technologies has a 52-week low of $1.20 and a 52-week high of $2.58. The stock has a market cap of $64.54 million, a PE ratio of -6.35 and a beta of 1.27.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered Wrap Technologies from a "hold" rating to a "sell" rating in a report on Saturday.

Insiders Place Their Bets

In other Wrap Technologies news, major shareholder Elwood G. Norris sold 30,000 shares of the 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 completion of the transaction, the insider directly owned 867,100 shares of the company's stock, valued at approximately $1,456,728. This represents a 3.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 18.57% of the company's stock.

Hedge Funds Weigh In On Wrap Technologies

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