Insider Selling: Wrap Technologies, Inc. (NASDAQ:WRAP) Major Shareholder Sells 12,814 Shares of Stock

Wrap Technologies, Inc. (NASDAQ:WRAP) major shareholder Elwood G. Norris sold 12,814 shares of the stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $1.59, for a total value of $20,374.26. Following the transaction, the insider now directly owns 970,725 shares in the company, valued at approximately $1,543,452.75. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Wrap Technologies Trading Down 1.5 %

WRAP traded down $0.03 during trading hours on Tuesday, hitting $1.69. The company’s stock had a trading volume of 35,479 shares, compared to its average volume of 312,956. Wrap Technologies, Inc. has a fifty-two week low of $1.21 and a fifty-two week high of $7.01. The firm has a market capitalization of $74.50 million, a PE ratio of -4.43 and a beta of 1.54. The company has a 50-day simple moving average of $1.53 and a 200 day simple moving average of $1.65.

Wrap Technologies (NASDAQ:WRAP) last issued its quarterly earnings results on Wednesday, August 28th. The company reported ($0.44) earnings per share (EPS) for the quarter. The firm had revenue of $0.59 million for the quarter. Wrap Technologies had a negative net margin of 377.99% and a negative return on equity of 240.61%.

Institutional Trading of Wrap Technologies

Several hedge funds and other institutional investors have recently modified their holdings of the company. Wealthspire Advisors LLC bought a new position in shares of Wrap Technologies in the second quarter worth about $90,000. Main Street Financial Solutions LLC boosted its holdings in Wrap Technologies by 16.1% during the second quarter. Main Street Financial Solutions LLC now owns 71,941 shares of the company’s stock valued at $144,000 after purchasing an additional 10,000 shares in the last quarter. Virtu Financial LLC acquired a new stake in Wrap Technologies during the first quarter valued at approximately $98,000. Vanguard Group Inc. boosted its holdings in Wrap Technologies by 11.0% during the first quarter. Vanguard Group Inc. now owns 1,221,563 shares of the company’s stock valued at $2,761,000 after purchasing an additional 120,764 shares in the last quarter. Finally, NorthRock Partners LLC raised its stake in shares of Wrap Technologies by 68.1% in the first quarter. NorthRock Partners LLC now owns 62,344 shares of the company’s stock valued at $141,000 after acquiring an additional 25,252 shares during the last quarter. 8.82% of the stock is currently owned by hedge funds and other institutional investors.

Wrap Technologies Company Profile

Wrap Technologies, Inc, a public safety technology and services company, develops policing solutions to law enforcement and security personnel. The company's flagship product is BolaWrap 150, a handheld remote restraint device that discharges a seven and a half-foot Kevlar tether, entangling an individual from a range of 10-25 feet.