Wrap Technologies (NASDAQ:WRAP) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded Wrap Technologies from “sell” to “hold,” although Weiss Ratings separately lowered its rating from “sell (d-)” to “sell (e+).” MarketBeat data shows the stock’s average rating remains “Sell.”
• Wrap Technologies shares were up 8.0%, opening at $1.88, with a market capitalization of approximately $105.3 million and a 52-week trading range of $1.04 to $3.23.
• The company exceeded quarterly expectations, reporting a loss of $0.04 per share versus the estimated $0.10 loss and revenue of $2.05 million versus the $1.61 million consensus estimate. However, it continues to report significant negative profitability metrics, including a net margin of -205.10%.

Wrap Technologies (NASDAQ:WRAP - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Saturday.

Separately, Weiss Ratings downgraded shares of Wrap Technologies from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Monday, May 18th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has an average rating of "Sell".

Wrap Technologies Stock Up 8.0%

WRAP opened at $1.88 on Friday. The business has a fifty day moving average of $1.64 and a 200 day moving average of $1.62. The stock has a market cap of $105.28 million, a P/E ratio of -6.96 and a beta of 1.34. Wrap Technologies has a 52-week low of $1.04 and a 52-week high of $3.23.

Wrap Technologies (NASDAQ:WRAP - Get Free Report) last released its earnings results on Tuesday, August 11th. The company reported ($0.04) earnings per share for the quarter, topping analysts' consensus estimates of ($0.10) by $0.06. Wrap Technologies had a negative return on equity of 101.24% and a negative net margin of 205.10%.The business had revenue of $2.05 million for the quarter, compared to analyst estimates of $1.61 million.

Insider Buying and Selling at Wrap Technologies

In other news, Director John D. Shulman bought 100,000 shares of the stock in a transaction on Wednesday, July 8th. The stock was acquired at an average cost of $1.10 per share, for a total transaction of $110,000.00. Following the acquisition, the director owned 199,037 shares of the company's stock, valued at $218,940.70. This represents a 100.97% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 33.26% of the company's stock.

Hedge Funds Weigh In On Wrap Technologies

Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its position in Wrap Technologies by 6.3% during the 3rd quarter. Vanguard Group Inc. now owns 1,660,908 shares of the company's stock valued at $3,604,000 after acquiring an additional 98,782 shares in the last quarter. Raymond James Financial Inc. raised its position in shares of Wrap Technologies by 6.0% in the 3rd quarter. Raymond James Financial Inc. now owns 646,853 shares of the company's stock worth $1,404,000 after acquiring an additional 36,429 shares in the last quarter. BlackRock Inc. purchased a new stake in shares of Wrap Technologies during the 2nd quarter worth $734,000. Geode Capital Management LLC lifted its stake 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 worth $970,000 after purchasing an additional 6,340 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its position in Wrap Technologies by 101.9% during the first quarter. Renaissance Technologies LLC now owns 316,762 shares of the company's stock valued at $488,000 after purchasing an additional 159,862 shares in the last quarter. 8.82% of the stock is currently owned by institutional investors.

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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