Wrap Technologies (NASDAQ:WRAP) Stock Price Up 2% – Here’s What Happened

Wrap Technologies, Inc. (NASDAQ:WRAP) rose 2% during mid-day trading on Tuesday . The stock traded as high as $1.68 and last traded at $1.55. Approximately 340,478 shares traded hands during mid-day trading, an increase of 10% from the average daily volume of 308,601 shares. The stock had previously closed at $1.52.

Wrap Technologies Price Performance

The firm has a 50-day simple moving average of $1.56 and a 200 day simple moving average of $1.61.

Wrap Technologies (NASDAQ:WRAP) last announced its earnings results on Tuesday, October 15th. The company reported ($0.02) EPS for the quarter. The company had revenue of $1.57 million for the quarter. Wrap Technologies had a negative net margin of 295.12% and a negative return on equity of 316.93%.

Insiders Place Their Bets

In other Wrap Technologies news, major shareholder Elwood G. Norris sold 22,186 shares of Wrap Technologies stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $1.63, for a total transaction of $36,163.18. Following the sale, the insider now directly owns 938,539 shares in the company, valued at $1,529,818.57. The trade was a 2.31 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 40,000 shares of company stock worth $64,337 in the last quarter. 14.75% of the stock is owned by corporate insiders.

Institutional Trading of Wrap Technologies

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in Wrap Technologies by 11.0% during the 1st quarter. Vanguard Group Inc. now owns 1,221,563 shares of the company’s stock worth $2,761,000 after acquiring an additional 120,764 shares in the last quarter. Main Street Financial Solutions LLC grew its stake in Wrap Technologies by 16.1% in the second quarter. Main Street Financial Solutions LLC now owns 71,941 shares of the company’s stock worth $144,000 after purchasing an additional 10,000 shares in the last quarter. Wealthspire Advisors LLC bought a new stake in Wrap Technologies in the second quarter valued at about $90,000. Virtu Financial LLC acquired a new stake in Wrap Technologies during the first quarter valued at approximately $98,000. Finally, GSA Capital Partners LLP raised its stake in Wrap Technologies by 57.5% during the third quarter. GSA Capital Partners LLP now owns 29,656 shares of the company’s stock valued at $44,000 after buying an additional 10,827 shares in the last quarter. Institutional investors and hedge funds own 8.82% of the company’s stock.

Wrap Technologies Company Profile

Wrap Technologies, Inc, a public safety technology and services company, develops policing solutions to law enforcement and security personnel. The company's flagship product is BolaWrap 150, a handheld remote restraint device that discharges a seven and a half-foot Kevlar tether, entangling an individual from a range of 10-25 feet.