Traders Purchase High Volume of Call Options on Wrap Technologies (NASDAQ:WRAP)

Wrap Technologies, Inc. (NASDAQ:WRAP) saw some unusual options trading activity on Thursday. Investors bought 10,797 call options on the company. This is an increase of 1,474% compared to the average volume of 686 call options.

Insider Activity at Wrap Technologies

In other news, major shareholder Elwood G. Norris sold 80,000 shares of the firm’s stock in a transaction on 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 approximately $11,719,702.93. This trade represents a 1.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 33.26% of the company’s stock.

Institutional Investors Weigh In On Wrap Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of WRAP. Renaissance Technologies LLC boosted its holdings in shares of Wrap Technologies by 236.0% in the fourth quarter. Renaissance Technologies LLC now owns 156,900 shares of the company’s stock valued at $373,000 after acquiring an additional 110,200 shares during the period. Vanguard Group Inc. increased its holdings in shares of Wrap Technologies by 6.3% in the 3rd quarter. Vanguard Group Inc. now owns 1,660,908 shares of the company’s stock valued at $3,604,000 after acquiring an additional 98,782 shares during the period. Jane Street Group LLC increased its holdings in shares of Wrap Technologies by 417.6% in the 4th quarter. Jane Street Group LLC now owns 120,272 shares of the company’s stock valued at $286,000 after acquiring an additional 97,035 shares during the period. OMERS ADMINISTRATION Corp purchased a new stake in Wrap Technologies in the 4th quarter valued at $126,000. Finally, Barclays PLC purchased a new stake in Wrap Technologies in the 4th quarter valued at $96,000. 8.82% of the stock is owned by hedge funds and other institutional investors.

Wrap Technologies Trading Up 2.7%

WRAP stock opened at $1.51 on Friday. The stock has a market cap of $82.30 million, a P/E ratio of -5.03 and a beta of 1.51. Wrap Technologies has a twelve month low of $1.20 and a twelve month high of $3.23. The company’s 50 day moving average is $2.00 and its two-hundred day moving average is $2.21.

Analyst Ratings Changes

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

About Wrap Technologies

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.