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 analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued on Saturday.

Wrap Technologies Stock Up 11.0%

Shares of Wrap Technologies stock traded up $0.14 during midday trading on Friday, hitting $1.41. The company had a trading volume of 237,964 shares, compared to its average volume of 185,253. The stock has a market cap of $71.66 million, a price-to-earnings ratio of -7.05 and a beta of 1.27. The company has a fifty day simple moving average of $1.45 and a 200 day simple moving average of $1.64. Wrap Technologies has a 12-month low of $1.20 and a 12-month high of $2.58.

Wrap Technologies (NASDAQ:WRAP - Get Free Report) last issued its quarterly 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 175.85% and a negative net margin of 285.43%.The business had revenue of $1.01 million during the quarter.

Insiders Place Their Bets

In related news, major shareholder Elwood G. Norris sold 30,000 shares of the stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $1.68, for a total value of $50,400.00. Following the transaction, the insider owned 867,100 shares in the company, valued at approximately $1,456,728. This represents a 3.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 18.57% of the company's stock.

Hedge Funds Weigh In On Wrap Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of WRAP. Geode Capital Management LLC increased its holdings in shares of Wrap Technologies by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 349,596 shares of the company's stock valued at $741,000 after purchasing an additional 5,195 shares in the last quarter. Two Sigma Securities LLC purchased a new position in shares of Wrap Technologies during the 4th quarter valued at approximately $33,000. XTX Topco Ltd purchased a new position in shares of Wrap Technologies during the 2nd quarter valued at approximately $32,000. Jane Street Group LLC purchased a new position in shares of Wrap Technologies during the 4th quarter valued at approximately $70,000. Finally, Thompson Davis & CO. Inc. purchased a new position in shares of Wrap Technologies during the 2nd quarter valued at approximately $103,000. 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.