Wrap Technologies (NASDAQ:WRAP) Major Shareholder Sells $44,000.00 in Stock

Key Points

• Elwood Norris sold 20,000 shares at an average price of $2.20 for a total of $44,000, leaving him with 5,236,042 shares (a 0.38% reduction in his position).
• Shares traded down about 2.1% to $1.46 midday, with a market cap near $81 million, a 50‑day/200‑day moving average of $1.55/$2.06, and a 52‑week range of $1.20–$3.23.
• Wrap reported Q earnings of ($0.08) EPS (beating estimates) on $1.40M revenue (below estimates), shows markedly negative margins/ROE, and is rated an overall Sell by analysts (Weiss reaffirmed a sell).

Wrap Technologies, Inc. (NASDAQ:WRAP - Get Free Report) major shareholder Elwood Norris sold 20,000 shares of the business's stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $2.20, for a total transaction of $44,000.00. Following the completion of the transaction, the insider directly owned 5,236,042 shares of the company's stock, valued at $11,519,292.40. The trade was a 0.38% decrease in their position. The sale was disclosed in a legal filing with the SEC, 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 sales and purchases with the SEC.

Wrap Technologies Trading Down 2.1%

Shares of NASDAQ WRAP traded down $0.03 during midday trading on Tuesday, reaching $1.46. 203,097 shares of the stock were exchanged, compared to its average volume of 369,074. The stock has a 50 day moving average price of $1.55 and a 200-day moving average price of $2.06. The company has a market capitalization of $80.97 million, a P/E ratio of -6.95 and a beta of 1.41. 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 released its earnings results on Thursday, March 26th. The company reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.02. Wrap Technologies had a negative net margin of 198.63% and a negative return on equity of 103.50%. The firm had revenue of $1.40 million during the quarter, compared to analysts' expectations of $1.61 million.

Institutional Trading of Wrap Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WRAP. Vanguard Group Inc. lifted its position in shares of Wrap Technologies by 6.3% during the 3rd quarter. Vanguard Group Inc. now owns 1,660,908 shares of the company's stock worth $3,604,000 after buying an additional 98,782 shares in the last quarter. Raymond James Financial Inc. boosted its stake in Wrap Technologies by 6.0% in the third quarter. Raymond James Financial Inc. now owns 646,853 shares of the company's stock valued at $1,404,000 after acquiring an additional 36,429 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Wrap Technologies by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 407,287 shares of the company's stock valued at $970,000 after acquiring an additional 6,340 shares during the period. Renaissance Technologies LLC raised its holdings in shares of Wrap Technologies by 236.0% in the 4th quarter. Renaissance Technologies LLC now owns 156,900 shares of the company's stock worth $373,000 after purchasing an additional 110,200 shares during the period. Finally, State Street Corp lifted its position in shares of Wrap Technologies by 16.2% during the 4th quarter. State Street Corp now owns 129,667 shares of the company's stock valued at $309,000 after buying an additional 18,100 shares during the last quarter. 8.82% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Wrap Technologies Company Profile

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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