Wrap Technologies (NASDAQ:WRAP) Stock Price Up 7.6% – Still a Buy?

Wrap Technologies, Inc. (NASDAQ:WRAP)’s stock price was up 7.6% on Tuesday . The stock traded as high as $1.73 and last traded at $1.70. Approximately 291,861 shares changed hands during mid-day trading, a decline of 19% from the average daily volume of 361,089 shares. The stock had previously closed at $1.58.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Wrap Technologies in a research note on Friday, January 9th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Wrap Technologies has a consensus rating of “Sell”.

Wrap Technologies Stock Performance

The company has a market capitalization of $92.65 million, a price-to-earnings ratio of -5.67 and a beta of 1.46. The stock’s 50-day moving average price is $2.26 and its 200-day moving average price is $2.20.

Insider Buying and Selling at Wrap Technologies

In related news, major shareholder Elwood G. Norris sold 80,000 shares of the business’s stock in a transaction dated Thursday, January 29th. The shares were sold at an average price of $2.21, for a total value of $176,800.00. Following the sale, the insider directly owned 5,303,033 shares in the company, valued at $11,719,702.93. The trade was a 1.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 153,020 shares of company stock valued at $354,879 in the last three months. Company insiders own 33.26% of the company’s stock.

Institutional Trading of Wrap Technologies

Large investors have recently modified their holdings of the business. Geode Capital Management LLC raised its position in shares of Wrap Technologies by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 407,287 shares of the company’s stock worth $970,000 after purchasing an additional 6,340 shares during the last quarter. Osaic Holdings Inc. lifted its position in shares of Wrap Technologies by 13.6% in the second quarter. Osaic Holdings Inc. now owns 53,708 shares of the company’s stock valued at $84,000 after acquiring an additional 6,442 shares in the last quarter. HRT Financial LP acquired a new stake in shares of Wrap Technologies during the fourth quarter valued at $27,000. Squarepoint Ops LLC raised its stake in Wrap Technologies by 45.3% in the 3rd quarter. Squarepoint Ops LLC now owns 50,209 shares of the company’s stock valued at $109,000 after purchasing an additional 15,650 shares during the last quarter. Finally, State Street Corp boosted its stake in shares of Wrap Technologies by 16.2% during the 4th quarter. State Street Corp now owns 129,667 shares of the company’s stock worth $309,000 after purchasing an additional 18,100 shares during the last quarter. 8.82% of the stock is currently owned by institutional investors and hedge funds.

Wrap Technologies Company Profile

Wrap Technologies, Inc (NASDAQ: WRAP) is a designer and manufacturer of less-lethal restraint devices aimed at law enforcement and security professionals. Its flagship product, the BolaWrap®, is a handheld remote restraint tool that deploys a Kevlar-reinforced cord to safely immobilize individuals from a distance of up to 25 feet. The system is engineered to support de-escalation tactics and reduce reliance on physical force in high-risk encounters.

Based in Scottsdale, Arizona, Wrap Technologies oversees product development, testing and training at its headquarters.