Wrap Technologies (NASDAQ:WRAP) Trading Down 1.2% – Here’s What Happened

Wrap Technologies, Inc. (NASDAQ:WRAP)’s stock price dropped 1.2% during trading on Tuesday . The stock traded as low as $1.53 and last traded at $1.66. Approximately 583,743 shares changed hands during mid-day trading, an increase of 79% from the average session volume of 326,696 shares. The stock had previously closed at $1.68.

Wall Street Analyst Weigh In

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

Wrap Technologies Price Performance

The firm has a fifty day simple moving average of $1.38 and a two-hundred day simple moving average of $1.73. The firm has a market capitalization of $92.53 million, a P/E ratio of -5.53 and a beta of 1.37.

Wrap Technologies (NASDAQ:WRAP) last issued its quarterly earnings results on Wednesday, May 13th. The company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.01. The firm had revenue of $1.11 million for the quarter, compared to analysts’ expectations of $1.61 million. Wrap Technologies had a negative return on equity of 115.68% and a negative net margin of 270.03%.

Institutional Trading of Wrap Technologies

Several hedge funds and other institutional investors have recently modified their holdings of the business. Royal Capital Wealth Management LLC raised its position in shares of Wrap Technologies by 63.9% in the first quarter. Royal Capital Wealth Management LLC now owns 89,521 shares of the company’s stock valued at $138,000 after purchasing an additional 34,909 shares during the period. Renaissance Technologies LLC boosted its holdings in Wrap Technologies by 101.9% in the 1st quarter. Renaissance Technologies LLC now owns 316,762 shares of the company’s stock worth $488,000 after buying an additional 159,862 shares during the period. OMERS ADMINISTRATION Corp purchased a new position in Wrap Technologies in the 4th quarter valued at approximately $126,000. Barclays PLC purchased a new position in Wrap Technologies in the 4th quarter valued at approximately $96,000. Finally, State Street Corp raised its holdings in Wrap Technologies by 16.2% during the 4th quarter. State Street Corp now owns 129,667 shares of the company’s stock valued at $309,000 after acquiring an additional 18,100 shares during the period. Institutional investors own 8.82% of the company’s stock.

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.