Wrap Technologies (NASDAQ:WRAP) Trading 7.6% Higher – What’s Next?

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

Wall Street Analysts Forecast Growth

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

Wrap Technologies Stock Up 7.6%

The business’s fifty day moving average is $2.26 and its 200-day moving average is $2.20. The stock has a market capitalization of $92.65 million, a PE ratio of -5.67 and a beta of 1.46.

Insider Activity

In other news, major shareholder Elwood G. Norris sold 80,000 shares of the company’s stock in a transaction on Thursday, January 29th. The stock was sold at an average price of $2.21, for a total transaction of $176,800.00. Following the completion of the sale, the insider directly owned 5,303,033 shares in the company, valued at $11,719,702.93. This represents a 1.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Over the last three months, insiders have sold 153,020 shares of company stock worth $354,879. 33.26% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. HRT Financial LP acquired a new stake in Wrap Technologies in the 4th quarter valued at $27,000. XTX Topco Ltd bought a new position in Wrap Technologies during the 2nd quarter valued at $32,000. Barclays PLC acquired a new position in Wrap Technologies during the 4th quarter worth $96,000. Squarepoint Ops LLC increased its position in shares of Wrap Technologies by 45.3% in the 3rd quarter. Squarepoint Ops LLC now owns 50,209 shares of the company’s stock worth $109,000 after purchasing an additional 15,650 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp acquired a new stake in shares of Wrap Technologies in the 4th quarter valued at about $126,000. Hedge funds and other institutional investors own 8.82% of the company’s stock.

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.