Wrap Technologies (NASDAQ:WRAP) Shares Up 3.3% – Here’s What Happened

Shares of Wrap Technologies, Inc. (NASDAQ:WRAP) traded up 3.3% on Thursday . The company traded as high as $1.29 and last traded at $1.27. 141,989 shares traded hands during trading, a decline of 39% from the average session volume of 234,081 shares. The stock had previously closed at $1.23.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on WRAP shares. Wall Street Zen downgraded Wrap Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Weiss Ratings downgraded Wrap Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, May 18th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, Wrap Technologies has a consensus rating of “Sell”.

Wrap Technologies Price Performance

The firm has a 50-day simple moving average of $1.46 and a two-hundred day simple moving average of $1.87. The company has a market cap of $70.79 million, a PE ratio of -4.23 and a beta of 1.36.

Wrap Technologies (NASDAQ:WRAP) last released its quarterly earnings results on Wednesday, May 13th. The company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.01. The company had revenue of $1.11 million during the quarter, compared to the consensus estimate of $1.61 million. Wrap Technologies had a negative return on equity of 115.68% and a negative net margin of 270.03%.

Institutional Investors Weigh In On Wrap Technologies

Several hedge funds have recently made changes to their positions in WRAP. HRT Financial LP acquired a new stake in shares of Wrap Technologies during the fourth quarter worth $27,000. XTX Topco Ltd acquired a new stake in shares of Wrap Technologies during the second quarter worth $32,000. Osaic Holdings Inc. boosted its holdings in shares of Wrap Technologies by 13.6% during the second quarter. Osaic Holdings Inc. now owns 53,708 shares of the company’s stock worth $84,000 after purchasing an additional 6,442 shares during the last quarter. Barclays PLC acquired a new position in Wrap Technologies in the fourth quarter valued at $96,000. Finally, Squarepoint Ops LLC boosted its holdings in Wrap Technologies by 45.3% in the third quarter. Squarepoint Ops LLC now owns 50,209 shares of the company’s stock valued at $109,000 after acquiring an additional 15,650 shares during the last quarter. Institutional investors and hedge funds 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.