Wrap Technologies (NASDAQ:WRAP) Posts Earnings Results, Beats Estimates By $0.03 EPS

Wrap Technologies (NASDAQ:WRAP – Get Rating) posted its quarterly earnings results on Tuesday. The company reported ($0.13) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.16) by $0.03, MarketWatch Earnings reports. Wrap Technologies had a negative net margin of 316.27% and a negative return on equity of 55.08%. During the same period in the previous year, the firm earned ($0.14) EPS.

WRAP stock opened at $2.66 on Thursday. The stock has a market capitalization of $108.90 million, a price-to-earnings ratio of -4.29 and a beta of 1.65. The firm’s 50-day moving average price is $2.49. Wrap Technologies has a one year low of $1.60 and a one year high of $9.80.

Several hedge funds have recently added to or reduced their stakes in WRAP. Morgan Stanley purchased a new stake in shares of Wrap Technologies during the second quarter valued at about $1,544,000. JPMorgan Chase & Co. lifted its position in shares of Wrap Technologies by 12,952.9% during the fourth quarter. JPMorgan Chase & Co. now owns 124,003 shares of the company’s stock valued at $487,000 after buying an additional 123,053 shares during the last quarter. Millennium Management LLC lifted its position in shares of Wrap Technologies by 66.3% during the fourth quarter. Millennium Management LLC now owns 223,546 shares of the company’s stock valued at $879,000 after buying an additional 89,156 shares during the last quarter. Marshall Wace LLP purchased a new position in shares of Wrap Technologies in the 4th quarter valued at approximately $247,000. Finally, D. E. Shaw & Co. Inc. purchased a new position in shares of Wrap Technologies in the 4th quarter valued at approximately $217,000. 14.02% of the stock is owned by institutional investors and hedge funds.

Several brokerages have issued reports on WRAP. Maxim Group cut shares of Wrap Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, January 25th. LADENBURG THALM/SH SH dropped their target price on shares of Wrap Technologies from $6.25 to $5.25 and set a “buy” rating on the stock in a report on Friday, March 11th. Finally, Zacks Investment Research upgraded shares of Wrap Technologies from a “hold” rating to a “buy” rating and set a $2.00 target price on the stock in a report on Wednesday, March 16th.

About Wrap Technologies (Get Rating)

Wrap Technologies, Inc, a public safety technology and services company, develops policing solutions to law enforcement and security personnel. The company develops BolaWrap 150, a hand-held remote restraint device that discharges a Kevlar cord to restrain noncompliant individuals from a range of 10-25 feet.

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