Wrap Technologies (NASDAQ:WRAP) Lowered to Sell Rating by Wall Street Zen

Key Points

• Wrap Technologies' stock rating has been downgraded by Wall Street Zen from "hold" to "sell," indicating a negative outlook for investors.
• The company reported a loss of $0.07 per share in its last earnings report, accompanied by a significant negative return on equity of 300.07% and a revenue of only $1.01 million.
• Insider selling is noted, with major shareholder Elwood G. Norris selling 30,000 shares, reflecting a decrease in ownership and potentially signaling investor concerns.

Wrap Technologies (NASDAQ:WRAP - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "hold" rating to a "sell" rating in a note issued to investors on Saturday.

Wrap Technologies Trading Up 1.3%

WRAP stock opened at $1.53 on Friday. The firm has a market cap of $77.39 million, a P/E ratio of -7.65 and a beta of 1.27. Wrap Technologies has a 12-month low of $1.20 and a 12-month high of $2.58. The stock's 50 day simple moving average is $1.47 and its 200 day simple moving average is $1.65.

Wrap Technologies (NASDAQ:WRAP - Get Free Report) last issued its earnings results on Thursday, August 14th. The company reported ($0.07) earnings per share for the quarter. Wrap Technologies had a negative return on equity of 300.07% and a negative net margin of 285.43%. The company had revenue of $1.01 million during the quarter.

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 value of $50,400.00. Following the sale, the insider directly owned 867,100 shares of the company's stock, valued at $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 Securities & Exchange Commission, which is available at this link. 18.57% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of WRAP. Two Sigma Securities LLC bought a new position in Wrap Technologies during the fourth quarter valued at about $33,000. XTX Topco Ltd bought a new position in Wrap Technologies during the second quarter valued at about $32,000. Jane Street Group LLC bought a new position in Wrap Technologies during the fourth quarter valued at about $70,000. Thompson Davis & CO. Inc. bought a new position in Wrap Technologies during the second quarter valued at about $103,000. Finally, Marshall Wace LLP bought a new position in Wrap Technologies during the fourth quarter valued at about $271,000. 8.82% of the stock is owned by institutional investors and hedge funds.

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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