Elwood G. Norris Sells 30,000 Shares of Wrap Technologies, Inc. (NASDAQ:WRAP) Stock

Wrap Technologies, Inc. (NASDAQ:WRAP) major shareholder Elwood G. Norris sold 30,000 shares of the firm’s stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $1.68, for a total value of $50,400.00. Following the transaction, the insider now owns 867,100 shares in the company, valued at approximately $1,456,728. This trade represents a 3.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Wrap Technologies Price Performance

Shares of WRAP stock opened at $1.53 on Thursday. The firm has a 50-day moving average of $1.50 and a 200-day moving average of $1.79. Wrap Technologies, Inc. has a one year low of $1.30 and a one year high of $2.58. The company has a market cap of $77.39 million, a P/E ratio of -10.20 and a beta of 1.26.

Wrap Technologies (NASDAQ:WRAP) last posted its quarterly earnings data on Monday, March 31st. The company reported ($0.17) EPS for the quarter. Wrap Technologies had a negative net margin of 155.10% and a negative return on equity of 180.13%. The firm had revenue of $0.86 million during the quarter.

Hedge Funds Weigh In On Wrap Technologies

Several institutional investors have recently modified their holdings of the business. Caption Management LLC grew its holdings in shares of Wrap Technologies by 1,083.0% in the fourth quarter. Caption Management LLC now owns 162,462 shares of the company’s stock valued at $344,000 after acquiring an additional 178,990 shares in the last quarter. Jane Street Group LLC bought a new position in shares of Wrap Technologies in the fourth quarter valued at approximately $70,000. Two Sigma Securities LLC bought a new position in shares of Wrap Technologies in the fourth quarter valued at approximately $33,000. Marshall Wace LLP bought a new position in shares of Wrap Technologies in the fourth quarter valued at approximately $271,000. Finally, XTX Topco Ltd bought a new position in shares of Wrap Technologies in the fourth quarter valued at approximately $58,000. 8.82% of the stock is owned by institutional investors.

About Wrap Technologies

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.