Wrap Technologies (NASDAQ:WRAP) Trading Down 2.1%

Shares of Wrap Technologies, Inc. (NASDAQ:WRAP) dropped 2.1% during trading on Tuesday . The stock traded as low as $1.36 and last traded at $1.39. Approximately 81,674 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 344,428 shares. The stock had previously closed at $1.42.

Wrap Technologies Stock Up 7.1 %

The stock’s 50 day moving average price is $1.64 and its two-hundred day moving average price is $1.91. The stock has a market cap of $68.79 million, a price-to-earnings ratio of -3.95 and a beta of 1.54.

Insiders Place Their Bets

In other news, Director Kevin W. Mullins sold 12,730 shares of the company’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $2.10, for a total value of $26,733.00. Following the sale, the director now owns 483,421 shares in the company, valued at $1,015,184.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 14.75% of the stock is owned by insiders.

Hedge Funds Weigh In On Wrap Technologies

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Wrap Technologies by 11.0% in the first quarter. Vanguard Group Inc. now owns 1,221,563 shares of the company’s stock valued at $2,761,000 after buying an additional 120,764 shares in the last quarter. Main Street Financial Solutions LLC increased its stake in shares of Wrap Technologies by 16.1% in the 2nd quarter. Main Street Financial Solutions LLC now owns 71,941 shares of the company’s stock valued at $144,000 after purchasing an additional 10,000 shares in the last quarter. NorthRock Partners LLC raised its holdings in Wrap Technologies by 68.1% in the 1st quarter. NorthRock Partners LLC now owns 62,344 shares of the company’s stock worth $141,000 after purchasing an additional 25,252 shares during the period. Wealthspire Advisors LLC purchased a new position in Wrap Technologies during the second quarter worth approximately $90,000. Finally, Virtu Financial LLC acquired a new stake in Wrap Technologies in the first quarter valued at approximately $98,000. 8.82% of the stock is currently owned by institutional investors and hedge funds.

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.