Shares of Wrap Technologies Inc (OTCMKTS:WRTC) rose 17.2% on Tuesday . The stock traded as high as $5.20 and last traded at $5.05, approximately 600,363 shares traded hands during trading. An increase of 329% from the average daily volume of 139,978 shares. The stock had previously closed at $4.31.
Separately, Zacks Investment Research downgraded Wrap Technologies from a “hold” rating to a “sell” rating in a report on Saturday, October 12th.
The business’s 50-day moving average is $3.90 and its 200 day moving average is $4.81.
In related news, major shareholder Scot Cohen purchased 25,000 shares of Wrap Technologies stock in a transaction that occurred on Tuesday, November 12th. The shares were acquired at an average price of $4.35 per share, with a total value of $108,750.00. In the last 90 days, insiders have acquired 33,164 shares of company stock worth $142,699.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Advisor Group Inc. raised its stake in Wrap Technologies by 294.1% in the second quarter. Advisor Group Inc. now owns 11,030 shares of the company’s stock valued at $69,000 after purchasing an additional 8,231 shares in the last quarter. Morgan Stanley increased its holdings in Wrap Technologies by 179.4% in the 2nd quarter. Morgan Stanley now owns 11,581 shares of the company’s stock valued at $72,000 after buying an additional 7,436 shares during the period. Bank of New York Mellon Corp bought a new position in Wrap Technologies in the 2nd quarter valued at about $83,000. Charles Schwab Investment Management Inc. acquired a new position in shares of Wrap Technologies in the 2nd quarter valued at approximately $99,000. Finally, Susquehanna International Group LLP raised its position in shares of Wrap Technologies by 85.7% in the 2nd quarter. Susquehanna International Group LLP now owns 21,500 shares of the company’s stock valued at $134,000 after buying an additional 9,923 shares in the last quarter.
Wrap Technologies Company Profile (OTCMKTS:WRTC)
Wrap Technologies, Inc develops security products for law enforcement and security personnel. It develops BolaWrap, a hand-held remote restraint device to control an individual or impede flight by targeting and wrapping an individual's legs. The company was founded in 2016 and is headquartered in Las Vegas, Nevada.
Featured Story: Different Types of Derivatives
Receive News & Ratings for Wrap Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wrap Technologies and related companies with MarketBeat.com's FREE daily email newsletter.