Wrap Technologies (NASDAQ:WRAP) Director Purchases $110,000.00 in Stock

Wrap Technologies, Inc. (NASDAQ:WRAP) Director John Shulman bought 100,000 shares of the stock in a transaction that occurred on Wednesday, July 8th. The stock was acquired at an average price of $1.10 per share, for a total transaction of $110,000.00. Following the acquisition, the director directly owned 199,037 shares in the company, valued at $218,940.70. The trade was a 100.97% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink.

Wrap Technologies Stock Up 48.4%

NASDAQ WRAP traded up $0.77 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 company’s fifty day moving average is $1.40 and its 200 day moving average is $1.73. Wrap Technologies, Inc. has a 52-week low of $1.04 and a 52-week high of $3.23. The stock has a market capitalization of $131.55 million, a P/E ratio of -7.87 and a beta of 1.37.

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

Institutional Investors Weigh In On Wrap Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. HRT Financial LP bought 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 during the 2nd quarter valued at approximately $32,000. Osaic Holdings Inc. lifted its stake in shares of Wrap Technologies by 13.6% during the 2nd quarter. Osaic Holdings Inc. now owns 53,708 shares of the company’s stock valued at $84,000 after buying an additional 6,442 shares in the last quarter. Barclays PLC bought a new position in Wrap Technologies in the 4th quarter worth approximately $96,000. Finally, Squarepoint Ops LLC grew its stake in Wrap Technologies by 45.3% in the 3rd quarter. Squarepoint Ops LLC now owns 50,209 shares of the company’s stock valued at $109,000 after buying an additional 15,650 shares in the last quarter. 8.82% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Weiss Ratings cut Wrap Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, May 18th. Wall Street Zen cut Wrap Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Wrap Technologies has a consensus rating of “Sell”.

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.