Wrap Technologies (NASDAQ:WRAP) Stock Falls 7.6% – What’s Next?

Wrap Technologies, Inc. (NASDAQ:WRAP)’s stock price fell 7.6% during mid-day trading on Monday. The stock traded as low as $1.34 and last traded at $1.34. 551,779 shares were traded during mid-day trading, an increase of 9% from the average daily volume of 506,567 shares. The stock had previously closed at $1.45.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Wall Street Zen upgraded Wrap Technologies from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Wrap Technologies in a research report on Thursday, August 13th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Wrap Technologies Trading Up 1.1%

The stock has a market capitalization of $78.13 million, a P/E ratio of -5.17 and a beta of 1.31. The stock’s fifty day moving average price is $1.66 and its two-hundred day moving average price is $1.56.

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

Insider Activity

In related news, Director John Shulman acquired 100,000 shares of the firm’s stock in a transaction dated Wednesday, July 8th. The shares were purchased at an average price of $1.10 per share, for a total transaction of $110,000.00. Following the completion of the acquisition, the director owned 199,037 shares in the company, valued at approximately $218,940.70. This represents a 100.97% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Company insiders own 33.26% of the company’s stock.

Institutional Investors Weigh In On Wrap Technologies

Several institutional investors have recently added to or reduced their stakes in WRAP. Squarepoint Ops LLC purchased a new position in shares of Wrap Technologies during the second quarter valued at about $35,000. Royal Capital Wealth Management LLC bought a new stake in Wrap Technologies during the 2nd quarter valued at approximately $115,000. BlackRock Inc. bought a new stake in Wrap Technologies during the 2nd quarter valued at approximately $734,000. Finally, Renaissance Technologies LLC grew its holdings 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 worth $488,000 after acquiring an additional 159,862 shares during the period. Hedge funds and other institutional investors own 8.82% of the company’s stock.

Wrap Technologies Company Profile

Wrap Technologies, Inc (NASDAQ: WRAP) develops public-safety technology designed to help law enforcement and other authorized personnel manage difficult encounters with reduced reliance on traditional physical force. Its products are intended for use in situations involving uncooperative, combative, or potentially dangerous individuals.

The company’s principal product is BolaWrap, a handheld remote restraint device that deploys a Kevlar tether to entangle a subject’s legs or arms from a distance.