Wrap Technologies (NASDAQ:WRAP) Upgraded to “Hold” at Wall Street Zen

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

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Wrap Technologies in a research note on Saturday, September 27th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, Wrap Technologies presently has an average rating of “Sell”.

Wrap Technologies Stock Performance

Wrap Technologies stock opened at $2.77 on Friday. The firm has a market cap of $140.77 million, a price-to-earnings ratio of -13.85 and a beta of 1.39. Wrap Technologies has a 1 year low of $1.20 and a 1 year high of $2.87. The firm’s 50 day moving average price is $1.72 and its two-hundred day moving average price is $1.60.

Wrap Technologies (NASDAQ:WRAP) last posted its quarterly earnings results on Thursday, August 14th. The company reported ($0.07) earnings per share (EPS) for the quarter. Wrap Technologies had a negative return on equity of 175.85% and a negative net margin of 285.43%.The business had revenue of $1.01 million during the quarter.

Insider Activity

In other Wrap Technologies news, CEO Scot Cohen sold 96,989 shares of Wrap Technologies stock in a transaction on Friday, August 29th. The shares were sold at an average price of $1.31, for a total transaction of $127,055.59. Following the completion of the sale, the chief executive officer owned 6,275,356 shares of the company’s stock, valued at $8,220,716.36. This trade represents a 1.52% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 18.57% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Thompson Davis & CO. Inc. bought a new position in shares of Wrap Technologies during the 2nd quarter valued at $103,000. Osaic Holdings Inc. raised its holdings in shares of Wrap Technologies by 13.6% during the 2nd quarter. Osaic Holdings Inc. now owns 53,708 shares of the company’s stock valued at $84,000 after purchasing an additional 6,442 shares in the last quarter. Jane Street Group LLC bought a new position in shares of Wrap Technologies during the 4th quarter valued at $70,000. Finally, XTX Topco Ltd bought a new position in shares of Wrap Technologies during the 2nd quarter valued at $32,000. 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.