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

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

Wall Street Analyst Weigh In

WRAP has been the subject of a number of research reports. Weiss Ratings lowered Wrap Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, May 18th. Wall Street Zen downgraded Wrap Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has an average rating of “Sell”.

Wrap Technologies Stock Up 48.4%

The stock’s 50 day moving average is $1.38 and its 200-day moving average is $1.73. The company has a market cap of $131.54 million, a PE ratio of -7.87 and a beta of 1.37.

Wrap Technologies (NASDAQ:WRAP) last posted its earnings results on Wednesday, May 13th. The company reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.01. The firm had revenue of $1.11 million for 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%.

Institutional Investors Weigh In On Wrap Technologies

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

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.