Wrap Technologies (NASDAQ:WRAP) Major Shareholder Elwood Norris Sells 27,104 Shares of Stock

Wrap Technologies, Inc. (NASDAQ:WRAP) major shareholder Elwood Norris sold 27,104 shares of the firm’s stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $1.82, for a total transaction of $49,329.28. Following the transaction, the insider owned 5,113,938 shares in the company, valued at $9,307,367.16. This represents a 0.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Wrap Technologies Price Performance

NASDAQ WRAP opened at $1.46 on Wednesday. Wrap Technologies, Inc. has a 12 month low of $1.20 and a 12 month high of $3.23. The firm has a market capitalization of $81.03 million, a PE ratio of -6.95 and a beta of 1.41. The company’s 50 day simple moving average is $1.54 and its 200 day simple moving average is $2.05.

Wrap Technologies (NASDAQ:WRAP) last posted its quarterly earnings data on Thursday, March 26th. The company reported ($0.08) EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.02. Wrap Technologies had a negative net margin of 198.63% and a negative return on equity of 103.50%. The business had revenue of $1.40 million for the quarter, compared to analyst estimates of $1.61 million.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Wrap Technologies in a report on Wednesday, April 8th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has an average rating of “Sell”.

Wrap Technologies News Roundup

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

• Negative Sentiment: Major shareholder Elwood G. Norris sold 27,104 shares on Feb. 10 at an average price of $1.82 (proceeds $49,329.28); his post-sale holding remained ~5.11M shares. SEC Filing
• Negative Sentiment: Norris sold 35,000 shares on Feb. 9 at $1.82 (proceeds $63,700); holding after the sale ~5.14M shares. SEC Filing
• Negative Sentiment: Norris sold 75,000 shares on Feb. 6 at $1.87 (proceeds $140,250); holding after the sale ~5.22M shares. SEC Filing
• Negative Sentiment: Norris sold 20,000 shares on Feb. 3 at $2.20 (proceeds $44,000); holding after the sale ~5.24M shares. SEC Filing
• Negative Sentiment: Norris sold 31,991 shares on Feb. 2 at $2.08 (proceeds $66,541.28); holding after the sale ~5.27M shares. SEC Filing

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased 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 during the period. Raymond James Financial Inc. increased its stake in Wrap Technologies by 6.0% in the 3rd quarter. Raymond James Financial Inc. now owns 646,853 shares of the company’s stock valued at $1,404,000 after buying an additional 36,429 shares during the period. Geode Capital Management LLC increased its stake in Wrap Technologies by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 407,287 shares of the company’s stock valued at $970,000 after buying an additional 6,340 shares during the period. Renaissance Technologies LLC increased its stake in Wrap Technologies by 236.0% in the 4th quarter. Renaissance Technologies LLC now owns 156,900 shares of the company’s stock valued at $373,000 after buying an additional 110,200 shares during the period. Finally, State Street Corp increased its stake in Wrap Technologies by 16.2% in the 4th quarter. State Street Corp now owns 129,667 shares of the company’s stock valued at $309,000 after buying an additional 18,100 shares during the period. Institutional investors and hedge funds own 8.82% of the company’s stock.

About Wrap Technologies

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.