Wrap Technologies, Inc. (NASDAQ:WRAP) Major Shareholder Sells $36,163.18 in Stock

Wrap Technologies, Inc. (NASDAQ:WRAP) major shareholder Elwood G. Norris sold 22,186 shares of the business’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $1.63, for a total transaction of $36,163.18. Following the sale, the insider now owns 938,539 shares of the company’s stock, valued at $1,529,818.57. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Wrap Technologies Stock Performance

WRAP traded down $0.03 during mid-day trading on Tuesday, reaching $1.69. 35,479 shares of the stock were exchanged, compared to its average volume of 312,956. The stock has a market capitalization of $74.50 million, a PE ratio of -4.50 and a beta of 1.54. The company has a 50 day moving average price of $1.53 and a two-hundred day moving average price of $1.65. Wrap Technologies, Inc. has a 1 year low of $1.21 and a 1 year high of $7.01.

Wrap Technologies (NASDAQ:WRAP) last posted its quarterly earnings data on Wednesday, August 28th. The company reported ($0.44) earnings per share (EPS) for the quarter. The firm had revenue of $0.59 million for the quarter. Wrap Technologies had a negative return on equity of 240.61% and a negative net margin of 377.99%.

Hedge Funds Weigh In On Wrap Technologies

A number of hedge funds have recently bought and sold shares of WRAP. Core Wealth Partners LLC purchased a new stake in Wrap Technologies during the first quarter worth about $26,000. SG Americas Securities LLC purchased a new stake in Wrap Technologies during the first quarter worth about $42,000. Financial Security Advisor Inc. increased its holdings in Wrap Technologies by 31.1% during the first quarter. Financial Security Advisor Inc. now owns 31,049 shares of the company’s stock worth $70,000 after buying an additional 7,361 shares during the last quarter. Wealthspire Advisors LLC purchased a new stake in Wrap Technologies during the second quarter worth about $90,000. Finally, Virtu Financial LLC purchased a new stake in Wrap Technologies during the first quarter worth about $98,000. 8.82% of the stock is owned by hedge funds and other institutional investors.

Wrap Technologies Company Profile

Wrap Technologies, Inc, a public safety technology and services company, develops policing solutions to law enforcement and security personnel. The company's flagship product is BolaWrap 150, a handheld remote restraint device that discharges a seven and a half-foot Kevlar tether, entangling an individual from a range of 10-25 feet.