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Wrap Technologies (NASDAQ:WRAP) Raised to Hold at Wall Street Zen

Wrap Technologies logo with Industrials background

Key Points

  • Wrap Technologies has been upgraded from a "sell" to a "hold" rating by Wall Street Zen, though Weiss Ratings maintains a "sell" rating.
  • The company's stock experienced a modest increase, trading at $2.77 with a 52-week low of $1.20 and a high of $2.87.
  • CEO Scot Cohen sold nearly 97,000 shares, reducing his ownership stake in the company by 1.52%, but he still holds over 6 million shares valued at approximately $8.2 million.
  • MarketBeat previews the top five stocks to own by November 1st.

Wrap Technologies (NASDAQ:WRAP - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a note issued to investors on Friday.

Separately, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Wrap Technologies in a research report on Saturday, September 27th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Sell".

Read Our Latest Stock Analysis on WRAP

Wrap Technologies Price Performance

Wrap Technologies stock traded up $0.08 during midday trading on Friday, reaching $2.77. The company's stock had a trading volume of 531,330 shares, compared to its average volume of 504,439. The stock has a market capitalization of $140.77 million, a P/E ratio of -13.85 and a beta of 1.39. The stock's 50-day simple moving average is $1.72 and its 200-day simple moving average is $1.60. Wrap Technologies has a 52-week low of $1.20 and a 52-week high of $2.87.

Wrap Technologies (NASDAQ:WRAP - Get Free Report) last posted its quarterly earnings data on Thursday, August 14th. The company reported ($0.07) earnings per share (EPS) for the quarter. The company had revenue of $1.01 million for the quarter. Wrap Technologies had a negative net margin of 285.43% and a negative return on equity of 175.85%.

Insider Buying and Selling

In other news, CEO Scot Cohen sold 96,989 shares of the firm's stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $1.31, for a total transaction of $127,055.59. Following the sale, the chief executive officer owned 6,275,356 shares of the company's stock, valued at $8,220,716.36. This trade represents a 1.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 18.57% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Osaic Holdings Inc. increased its stake in shares of Wrap Technologies by 13.6% in the 2nd quarter. Osaic Holdings Inc. now owns 53,708 shares of the company's stock valued at $84,000 after purchasing an additional 6,442 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of Wrap Technologies during the 2nd quarter worth 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. acquired a new stake in Wrap Technologies in the 2nd quarter valued at $103,000. Institutional investors and hedge funds own 8.82% of the company's stock.

Wrap Technologies Company Profile

(Get Free Report)

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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