Wrap Technologies (NASDAQ:WRAP) Major Shareholder Elwood Norris Sells 31,991 Shares

Key Points

• Major shareholder Elwood Norris sold 31,991 shares at an average price of $2.08 for $66,541, reducing his stake by 0.60% to 5,268,033 shares.
• WRAP stock traded at $1.46 (50-day avg $1.55; 200-day avg $2.06) with a 12‑month range of $1.20–$3.23 and a market cap of about $80.97 million.
• The company reported a quarterly loss of $0.08 per share on $1.40 million in revenue, has negative ROE and net margins, and holds a consensus Sell rating (Weiss Ratings D-).

Wrap Technologies, Inc. (NASDAQ:WRAP - Get Free Report) major shareholder Elwood Norris sold 31,991 shares of the business's stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $2.08, for a total value of $66,541.28. Following the transaction, the insider owned 5,268,033 shares in the company, valued at approximately $10,957,508.64. This trade represents a 0.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own 10% or more of a company's shares are required to disclose their transactions with the SEC.

Wrap Technologies Stock Performance

WRAP stock traded down $0.03 on Tuesday, hitting $1.46. 203,097 shares of the company's stock were exchanged, compared to its average volume of 369,074. Wrap Technologies, Inc. has a 12-month low of $1.20 and a 12-month high of $3.23. The firm has a 50 day moving average price of $1.55 and a two-hundred day moving average price of $2.06. The stock has a market cap of $80.97 million, a P/E ratio of -6.95 and a beta of 1.41.

Wrap Technologies (NASDAQ:WRAP - Get Free Report) last announced its earnings results on Thursday, March 26th. The company reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.02. Wrap Technologies had a negative return on equity of 103.50% and a negative net margin of 198.63%.The firm had revenue of $1.40 million for the quarter, compared to the consensus estimate of $1.61 million.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a "sell (d-)" rating on shares of Wrap Technologies in a research note on Wednesday, April 8th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company has a consensus rating of "Sell".

Institutional Trading of Wrap Technologies

Several large investors have recently added to or reduced their stakes in WRAP. Geode Capital Management LLC grew its holdings in Wrap Technologies by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 407,287 shares of the company's stock worth $970,000 after acquiring an additional 6,340 shares during the period. Osaic Holdings Inc. grew its holdings in Wrap Technologies by 13.6% during the second quarter. Osaic Holdings Inc. now owns 53,708 shares of the company's stock worth $84,000 after acquiring an additional 6,442 shares during the period. HRT Financial LP acquired a new stake in Wrap Technologies during the fourth quarter worth about $27,000. Squarepoint Ops LLC grew its holdings in Wrap Technologies by 45.3% during the third quarter. Squarepoint Ops LLC now owns 50,209 shares of the company's stock worth $109,000 after acquiring an additional 15,650 shares during the period. Finally, State Street Corp grew its holdings in Wrap Technologies by 16.2% during the fourth quarter. State Street Corp now owns 129,667 shares of the company's stock worth $309,000 after acquiring an additional 18,100 shares during the period. Hedge funds and other institutional investors own 8.82% of the company's stock.

About Wrap Technologies

Wrap Technologies, Inc NASDAQ: WRAP is a designer and manufacturer of less-lethal restraint devices aimed at law enforcement and security professionals. Its flagship product, the BolaWrap®, is a handheld remote restraint tool that deploys a Kevlar-reinforced cord to safely immobilize individuals from a distance of up to 25 feet. The system is engineered to support de-escalation tactics and reduce reliance on physical force in high-risk encounters.

Based in Scottsdale, Arizona, Wrap Technologies oversees product development, testing and training at its headquarters.

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