Wrap Technologies (NASDAQ:WRAP) Trading Down 4.8% - Here's Why

Key Points

• Wrap Technologies' stock dropped by 4.8%, trading between $2.14 and $2.17, with a trading volume significantly lower than the average.
• The company received a downgrade from Wall Street Zen, changing its rating from "hold" to "sell" on August 16th.
• Wrap Technologies reported a quarterly revenue of $1.01 million with a negative net margin of 285.43% and a negative return on equity of 175.85%.

Wrap Technologies, Inc. (NASDAQ:WRAP - Get Free Report) shares fell 4.8% during mid-day trading on Tuesday . The stock traded as low as $2.14 and last traded at $2.17. 357,091 shares changed hands during trading, a decline of 34% from the average session volume of 538,895 shares. The stock had previously closed at $2.28.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded Wrap Technologies from a "hold" rating to a "sell" rating in a research report on Saturday, August 16th.

Wrap Technologies Stock Performance

The stock has a market capitalization of $110.28 million, a P/E ratio of -10.85 and a beta of 1.35. The stock has a 50-day moving average price of $1.65 and a two-hundred day moving average price of $1.59.

Wrap Technologies (NASDAQ:WRAP - Get Free Report) last announced its earnings results on Thursday, August 14th. The company reported ($0.07) EPS for the quarter. The business 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 at Wrap Technologies

In related news, CEO Scot Cohen sold 96,989 shares of the business's stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $1.31, for a total transaction of $127,055.59. Following the transaction, the chief executive officer owned 6,275,356 shares in the company, valued at $8,220,716.36. The trade was a 1.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 18.57% of the company's stock.

Institutional Trading of Wrap Technologies

Several large investors have recently bought and sold shares of WRAP. Osaic Holdings Inc. grew its holdings 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 acquiring an additional 6,442 shares during the period. XTX Topco Ltd bought a new stake in shares of Wrap Technologies during the second quarter valued at approximately $32,000. Jane Street Group LLC purchased a new stake in Wrap Technologies in the fourth quarter worth $70,000. Finally, Thompson Davis & CO. Inc. bought a new position in Wrap Technologies in the second quarter worth $103,000. 8.82% of the stock is owned by institutional investors.

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.

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