Investors Buy Large Volume of Call Options on Wrap Technologies (NASDAQ:WRAP)

Wrap Technologies, Inc. (NASDAQ:WRAP) was the recipient of some unusual options trading activity on Wednesday. Stock traders acquired 8,282 call options on the company. This represents an increase of 690% compared to the typical daily volume of 1,048 call options.

Analyst Ratings Changes

Several brokerages have recently commented on WRAP. Wall Street Zen lowered Wrap Technologies from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Weiss Ratings downgraded shares of Wrap Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, May 18th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

Wrap Technologies Stock Down 4.3%

NASDAQ:WRAP traded down $0.07 on Wednesday, reaching $1.66. 323,183 shares of the company’s stock traded hands, compared to its average volume of 912,986. The stock has a 50-day simple moving average of $1.53 and a 200-day simple moving average of $1.69. Wrap Technologies has a 12 month low of $1.04 and a 12 month high of $3.23. The firm has a market cap of $92.25 million, a PE ratio of -5.52 and a beta of 1.37.

Wrap Technologies (NASDAQ:WRAP) last issued 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 for the quarter, compared to analysts’ expectations of $1.61 million. Wrap Technologies had a negative return on equity of 115.68% and a negative net margin of 270.03%.

Insiders Place Their Bets

In other Wrap Technologies news, Director John D. Shulman acquired 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 8th. The stock was bought at an average cost of $1.10 per share, with a total value of $110,000.00. Following the acquisition, the director owned 199,037 shares in the company, valued at approximately $218,940.70. This represents a 100.97% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 33.26% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Geode Capital Management LLC increased its position in shares of Wrap Technologies by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 407,287 shares of the company’s stock worth $970,000 after purchasing an additional 6,340 shares in the last quarter. Osaic Holdings Inc. grew its holdings in shares of 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 buying an additional 6,442 shares in the last quarter. HRT Financial LP acquired a new stake in shares of Wrap Technologies in the fourth quarter worth approximately $27,000. Squarepoint Ops LLC grew its stake 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 buying an additional 15,650 shares during the period. Finally, State Street Corp raised its stake in shares of Wrap Technologies by 16.2% during the fourth quarter. State Street Corp now owns 129,667 shares of the company’s stock valued at $309,000 after purchasing an additional 18,100 shares during the period. Institutional investors own 8.82% of the company’s stock.

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.