Wall Street Zen Upgrades Wrap Technologies (NASDAQ:WRAP) to “Hold”

Wrap Technologies (NASDAQ:WRAP) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Saturday.

Separately, Weiss Ratings downgraded Wrap Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, May 18th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has an average rating of “Sell”.

Wrap Technologies Price Performance

WRAP opened at $1.88 on Friday. Wrap Technologies has a twelve month low of $1.04 and a twelve month high of $3.23. The company has a fifty day moving average of $1.64 and a 200-day moving average of $1.61. The stock has a market cap of $105.28 million, a PE ratio of -6.96 and a beta of 1.34.

Wrap Technologies (NASDAQ:WRAP) last announced its earnings results on Tuesday, August 11th. The company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.06. The business had revenue of $2.05 million during the quarter, compared to the consensus estimate of $1.61 million. Wrap Technologies had a negative net margin of 205.10% and a negative return on equity of 101.24%.

Insider Transactions at Wrap Technologies

In other Wrap Technologies news, Director John D. Shulman purchased 100,000 shares of the business’s stock in a transaction on Wednesday, July 8th. The shares were purchased at an average cost of $1.10 per share, for a total transaction of $110,000.00. Following the acquisition, the director owned 199,037 shares of the company’s stock, valued at approximately $218,940.70. This represents a 100.97% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 33.26% of the company’s stock.

Institutional Trading of Wrap Technologies

Hedge funds have recently modified their holdings of the stock. Royal Capital Wealth Management LLC acquired a new position in shares of Wrap Technologies during the 2nd quarter valued at $115,000. BlackRock Inc. bought a new position in Wrap Technologies during the second quarter worth $734,000. Renaissance Technologies LLC grew its holdings in 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 purchasing an additional 159,862 shares during the period. OMERS ADMINISTRATION Corp acquired a new stake in Wrap Technologies in the fourth quarter worth $126,000. Finally, Barclays PLC bought a new stake in Wrap Technologies in the fourth quarter valued at $96,000. 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.