Wrap Technologies (NASDAQ:WRAP) Downgraded to “Sell” Rating by Wall Street Zen

Wall Street Zen downgraded shares of Wrap Technologies (NASDAQ:WRAP) from a hold rating to a sell rating in a report issued on Saturday morning.

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Wrap Technologies in a research report on Wednesday, April 8th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has an average rating of “Sell”.

Wrap Technologies Stock Down 10.0%

Shares of Wrap Technologies stock opened at $1.49 on Friday. The company’s 50-day simple moving average is $1.51 and its 200-day simple moving average is $2.00. Wrap Technologies has a 52-week low of $1.20 and a 52-week high of $3.23. The firm has a market cap of $82.77 million, a price-to-earnings ratio of -4.95 and a beta of 1.41.

Wrap Technologies (NASDAQ:WRAP) last issued its earnings results on Wednesday, May 13th. The company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.01. Wrap Technologies had a negative net margin of 270.03% and a negative return on equity of 115.68%. The company had revenue of $1.11 million for the quarter, compared to analyst estimates of $1.61 million.

Institutional Trading of Wrap Technologies

Several institutional investors and hedge funds have recently modified their holdings of WRAP. XTX Topco Ltd purchased a new stake in shares of Wrap Technologies in the second quarter valued at about $32,000. Osaic Holdings Inc. boosted its position in Wrap Technologies by 13.6% during the second 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 last quarter. Vanguard Group Inc. boosted its position in Wrap Technologies by 6.3% during the third quarter. Vanguard Group Inc. now owns 1,660,908 shares of the company’s stock worth $3,604,000 after acquiring an additional 98,782 shares during the last quarter. Squarepoint Ops LLC boosted its position in Wrap Technologies by 45.3% during the third quarter. Squarepoint Ops LLC now owns 50,209 shares of the company’s stock worth $109,000 after acquiring an additional 15,650 shares during the last quarter. Finally, Raymond James Financial Inc. boosted its position in Wrap Technologies by 6.0% during the third 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 during the last quarter. Hedge funds and other institutional investors own 8.82% of the company’s stock.

Wrap Technologies Company Profile

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.