Wrap Technologies (NASDAQ:WRAP) Stock Price Up 3.4% – What’s Next?

Wrap Technologies, Inc. (NASDAQ:WRAP)’s share price shot up 3.4% during mid-day trading on Wednesday . The company traded as high as $1.64 and last traded at $1.52. 85,836 shares changed hands during mid-day trading, a decline of 54% from the average session volume of 188,568 shares. The stock had previously closed at $1.47.

Wrap Technologies Stock Performance

The company has a market cap of $76.75 million, a PE ratio of -3.62 and a beta of 1.34. The business’s 50-day moving average is $1.86 and its 200 day moving average is $1.82.

Wrap Technologies (NASDAQ:WRAP) last released its earnings results on Monday, March 31st. The company reported ($0.17) earnings per share for the quarter. Wrap Technologies had a negative net margin of 394.21% and a negative return on equity of 480.59%. The company had revenue of $0.86 million during the quarter.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC raised its holdings in Wrap Technologies by 5.2% during the 3rd quarter. Geode Capital Management LLC now owns 344,401 shares of the company’s stock valued at $517,000 after buying an additional 17,150 shares during the last quarter. FNY Investment Advisers LLC purchased a new position in shares of Wrap Technologies in the fourth quarter valued at about $63,000. Sapient Capital LLC bought a new position in shares of Wrap Technologies during the fourth quarter valued at about $53,000. Raymond James Financial Inc. purchased a new stake in shares of Wrap Technologies during the fourth quarter worth about $1,906,000. Finally, Virtu Financial LLC bought a new stake in shares of Wrap Technologies in the fourth quarter worth about $45,000. Institutional investors 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.