Wrap Technologies (NASDAQ:WRAP) Stock Bumped Down to Sell by Wall Street Zen

Wall Street Zen cut shares of Wrap Technologies (NASDAQ:WRAP) from a hold rating to a sell rating in a report issued on Saturday,Wall Street Zen reports.

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Wrap Technologies in a research note on Wednesday. One research analyst has rated the stock with a Sell rating. According to data from MarketBeat, the company has an average rating of “Sell”.

Wrap Technologies Stock Up 11.3%

NASDAQ:WRAP traded up $0.14 during trading hours on Friday, reaching $1.38. 1,249,799 shares of the company’s stock were exchanged, compared to its average volume of 460,979. Wrap Technologies has a 1-year low of $0.98 and a 1-year high of $3.23. The firm has a market capitalization of $91.84 million, a price-to-earnings ratio of -5.11 and a beta of 1.35. The company has a 50-day moving average of $1.39 and a 200 day moving average of $1.55.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. purchased a new position in Wrap Technologies in the second quarter worth $734,000. Squarepoint Ops LLC purchased a new stake in shares of Wrap Technologies during the 2nd quarter worth $35,000. Royal Capital Wealth Management LLC purchased a new stake in shares of Wrap Technologies during the 2nd quarter worth $115,000. Finally, Renaissance Technologies LLC boosted 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 worth $488,000 after purchasing an additional 159,862 shares in the last quarter. Institutional investors and hedge funds own 8.82% of the company’s stock.

Wrap Technologies Company Profile

Wrap Technologies develops public safety products and training services for law enforcement and other public safety organizations. Its offerings are designed to support alternatives to traditional use-of-force methods and help agencies prepare for high-pressure encounters. The company’s best-known product, BolaWrap, is a handheld device that deploys a tether intended to restrain a person from a distance. Wrap Technologies also offers WrapReality, a virtual-reality training platform that lets officers practice responding to simulated situations.