Insider Buying: Wrap Technologies (NASDAQ:WRAP) CEO Buys $23,914.00 in Stock

Wrap Technologies, Inc. (NASDAQ:WRAP) CEO Scot Cohen bought 21,740 shares of the company’s stock in a transaction on Wednesday, July 8th. The shares were purchased at an average cost of $1.10 per share, for a total transaction of $23,914.00. Following the transaction, the chief executive officer owned 6,798,908 shares in the company, valued at approximately $7,478,798.80. This represents a 0.32% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Wrap Technologies Trading Up 48.4%

Shares of NASDAQ:WRAP traded up $0.77 during mid-day trading on Thursday, reaching $2.36. The company had a trading volume of 61,127,738 shares, compared to its average volume of 334,247. The firm has a market cap of $131.55 million, a price-to-earnings ratio of -7.87 and a beta of 1.37. The company’s 50-day moving average price is $1.40 and its 200-day moving average price is $1.73. Wrap Technologies, Inc. has a one year low of $1.04 and a one year high of $3.23.

Wrap Technologies (NASDAQ:WRAP) last announced its quarterly earnings data 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. The company had revenue of $1.11 million during the quarter, compared to analyst estimates of $1.61 million. Wrap Technologies had a negative return on equity of 115.68% and a negative net margin of 270.03%.

Institutional Investors Weigh In On Wrap Technologies

Several large investors have recently added to or reduced their stakes in the business. HRT Financial LP purchased a new position in Wrap Technologies during the fourth quarter worth about $27,000. XTX Topco Ltd purchased a new stake in shares of Wrap Technologies in the 2nd quarter valued at about $32,000. Barclays PLC purchased a new stake in shares of Wrap Technologies in the 4th quarter valued at about $96,000. Squarepoint Ops LLC boosted its position in shares of Wrap Technologies by 45.3% during the 3rd quarter. Squarepoint Ops LLC now owns 50,209 shares of the company’s stock valued at $109,000 after acquiring an additional 15,650 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp bought a new stake in shares of Wrap Technologies during the 4th quarter valued at about $126,000. Institutional investors own 8.82% of the company’s stock.

Wall Street Analyst Weigh In

WRAP has been the topic of a number of recent research reports. Weiss Ratings cut Wrap Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, May 18th. Wall Street Zen cut Wrap Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has an average rating of “Sell”.

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.