Wrap Technologies (NASDAQ:WRAP) Major Shareholder Elwood Norris Sells 75,000 Shares

Key Points

• Major shareholder Elwood Norris sold 75,000 shares on Feb. 6 at an average price of $1.87 for $140,250, trimming his stake by 1.42% to 5,216,042 shares, according to an SEC filing.
• Wrap shares traded around $1.46 with a market cap of $80.97M and a 52‑week range of $1.20–$3.23; the company reported Q EPS of ($0.08) (beating estimates) but revenue of $1.4M missed expectations and profitability metrics remain deeply negative.
• Institutional ownership is low (about 8.82%) despite several small new positions, and Weiss Ratings reaffirmed a “Sell (D-)”, leaving the consensus analyst view as a Sell.

Wrap Technologies, Inc. (NASDAQ:WRAP - Get Free Report) major shareholder Elwood Norris sold 75,000 shares of the firm's stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $1.87, for a total value of $140,250.00. Following the transaction, the insider owned 5,216,042 shares of the company's stock, valued at approximately $9,753,998.54. The trade was a 1.42% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own more than 10% of a company's shares are required to disclose their sales and purchases with the SEC.

Wrap Technologies Price Performance

Shares of Wrap Technologies stock traded down $0.03 during trading on Tuesday, reaching $1.46. 203,097 shares of the stock traded hands, compared to its average volume of 369,074. The company has a market capitalization of $80.97 million, a price-to-earnings ratio of -6.95 and a beta of 1.41. The business has a fifty day simple moving average of $1.55 and a two-hundred day simple moving average of $2.06. Wrap Technologies, Inc. has a 52-week low of $1.20 and a 52-week high of $3.23.

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of WRAP. HRT Financial LP acquired a new position in shares of Wrap Technologies in the fourth quarter worth about $27,000. XTX Topco Ltd acquired a new position in shares of Wrap Technologies during the 2nd quarter worth about $32,000. Osaic Holdings Inc. raised its position in shares of Wrap Technologies by 13.6% during the 2nd quarter. Osaic Holdings Inc. now owns 53,708 shares of the company's stock worth $84,000 after purchasing an additional 6,442 shares during the last quarter. Barclays PLC acquired a new position in shares of Wrap Technologies during the 4th quarter worth about $96,000. Finally, Squarepoint Ops LLC raised its position in shares of Wrap Technologies by 45.3% during the 3rd quarter. Squarepoint Ops LLC now owns 50,209 shares of the company's stock worth $109,000 after purchasing an additional 15,650 shares during the last quarter. Institutional investors and hedge funds own 8.82% of the company's stock.

Wall Street Analyst Weigh In

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

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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