Scot Cohen Buys 21,740 Shares of Wrap Technologies (NASDAQ:WRAP) Stock

Wrap Technologies, Inc. (NASDAQ:WRAP) CEO Scot Cohen purchased 21,740 shares of the business’s stock in a transaction on Wednesday, July 8th. The stock was purchased at an average price of $1.10 per share, with a total value of $23,914.00. Following the purchase, the chief executive officer owned 6,798,908 shares of the company’s stock, valued at approximately $7,478,798.80. The trade was a 0.32% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Wrap Technologies Price Performance

Wrap Technologies stock opened at $2.46 on Friday. The firm has a market capitalization of $137.12 million, a PE ratio of -8.20 and a beta of 1.37. Wrap Technologies, Inc. has a fifty-two week low of $1.04 and a fifty-two week high of $3.23. The company’s 50-day moving average is $1.42 and its 200-day moving average is $1.73.

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

Wall Street Analysts Forecast Growth

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

Institutional Trading of Wrap Technologies

Institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in 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 buying an additional 98,782 shares in the last quarter. Raymond James Financial Inc. lifted its position in shares of Wrap Technologies by 6.0% during the third quarter. Raymond James Financial Inc. now owns 646,853 shares of the company’s stock worth $1,404,000 after acquiring an additional 36,429 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Wrap Technologies by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 407,287 shares of the company’s stock worth $970,000 after acquiring an additional 6,340 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Wrap Technologies by 101.9% in the first quarter. Renaissance Technologies LLC now owns 316,762 shares of the company’s stock worth $488,000 after acquiring an additional 159,862 shares during the period. Finally, State Street Corp grew its position in shares of Wrap Technologies by 16.2% in the fourth quarter. State Street Corp now owns 129,667 shares of the company’s stock valued at $309,000 after purchasing an additional 18,100 shares in the last quarter. 8.82% of the stock is currently owned by hedge funds and other institutional investors.

More Wrap Technologies News

Here are the key news stories impacting Wrap Technologies this week:

• Positive Sentiment: CEO Scot Cohen bought 21,740 shares and Director John D. Shulman bought 100,000 shares at $1.10 per share, a strong vote of confidence from management and the board that often supports the stock. SEC filing – CEO purchase SEC filing – Director purchase
• Positive Sentiment: Wrap Technologies announced a strategic transaction securing U.S. and NATO distribution rights to physics-based sensing technology, which could broaden its product offering and create new revenue opportunities. Strategic transaction announcement
• Positive Sentiment: The company also issued a shareholder letter framing “the next evolution” of WRAP, reinforcing the impression that management is preparing for a broader commercial push. CEO letter to stockholders
• Positive Sentiment: Wrap also highlighted WrapShield, an autonomous defense and public safety platform, adding another growth catalyst and keeping momentum around its less-lethal and public safety technology portfolio. WrapShield launch
• Neutral Sentiment: Unusual call-option activity and editorial coverage about counter-drone and safety technologies point to rising trader interest, but they do not by themselves confirm a lasting fundamental improvement.
• Neutral Sentiment: A short-interest update showed 0 shares short, so there is no meaningful short-squeeze signal from that data point.

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.