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

Wrap Technologies, Inc. (NASDAQ:WRAP) saw unusually large options trading activity on Thursday. Traders bought 8,561 call options on the stock. This is an increase of 626% compared to the average daily volume of 1,180 call options.

Wrap Technologies Trading Up 8.9 %

NASDAQ:WRAP opened at $2.08 on Friday. The stock has a fifty day simple moving average of $2.97 and a 200-day simple moving average of $2.75. The company has a market cap of $91.96 million, a price-to-earnings ratio of -5.47 and a beta of 1.44. Wrap Technologies has a twelve month low of $0.95 and a twelve month high of $7.01.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Wrap Technologies by 351.2% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 215,250 shares of the company’s stock worth $667,000 after purchasing an additional 167,547 shares during the last quarter. Fortitude Family Office LLC purchased a new stake in shares of Wrap Technologies during the fourth quarter valued at about $91,000. Welch Group LLC acquired a new position in shares of Wrap Technologies during the fourth quarter valued at about $218,000. Meridian Wealth Management LLC acquired a new position in shares of Wrap Technologies during the third quarter valued at about $27,000. Finally, Griffin Asset Management Inc. acquired a new position in shares of Wrap Technologies during the fourth quarter valued at about $57,000. 8.82% of the stock is currently owned by institutional investors.

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.