Wrap Technologies (NASDAQ:WRAP) Upgraded by Wall Street Zen to Hold Rating

Wall Street Zen upgraded shares of Wrap Technologies (NASDAQ:WRAP) from a sell rating to a hold rating in a research report released on Saturday.

Separately, Weiss Ratings lowered shares of Wrap Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, May 18th. One 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 Up 8.0%

Wrap Technologies stock opened at $1.88 on Friday. Wrap Technologies has a 12-month low of $1.04 and a 12-month high of $3.23. The firm’s fifty day moving average is $1.64 and its 200 day moving average is $1.62. The company has a market capitalization of $105.28 million, a PE ratio of -6.96 and a beta of 1.34.

Wrap Technologies (NASDAQ:WRAP) last issued its earnings results on Tuesday, August 11th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.06. The business had revenue of $2.05 million for the quarter, compared to analyst estimates of $1.61 million. Wrap Technologies had a negative net margin of 205.10% and a negative return on equity of 101.24%.

Insider Activity at Wrap Technologies

In other news, Director John D. Shulman acquired 100,000 shares of the firm’s stock in a transaction dated Wednesday, July 8th. The stock was purchased at an average price of $1.10 per share, for a total transaction of $110,000.00. Following the completion of 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 position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 33.26% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Wrap Technologies

Large investors have recently modified their holdings of the company. Royal Capital Wealth Management LLC acquired a new stake in Wrap Technologies in the 2nd quarter valued at $115,000. BlackRock Inc. bought a new stake in Wrap Technologies during the 2nd quarter valued at $734,000. Renaissance Technologies LLC raised its holdings in Wrap Technologies by 101.9% during the first quarter. Renaissance Technologies LLC now owns 316,762 shares of the company’s stock worth $488,000 after buying an additional 159,862 shares during the last quarter. OMERS ADMINISTRATION Corp acquired a new position in Wrap Technologies during the fourth quarter worth $126,000. Finally, Barclays PLC bought a new position in shares of Wrap Technologies in the fourth quarter valued at $96,000. 8.82% of the stock is currently owned by institutional investors.

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.