Griffin Asset Management Inc. Sells 5,500 Shares of Wrap Technologies, Inc. (NASDAQ:WRAP)

Griffin Asset Management Inc. decreased its stake in Wrap Technologies, Inc. (NASDAQ:WRAP) by 29.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,000 shares of the company’s stock after selling 5,500 shares during the period. Griffin Asset Management Inc.’s holdings in Wrap Technologies were worth $29,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in WRAP. Symmetry Peak Management LLC bought a new position in shares of Wrap Technologies during the 4th quarter valued at $66,000. Meridian Wealth Management LLC grew its holdings in shares of Wrap Technologies by 61.6% during the 4th quarter. Meridian Wealth Management LLC now owns 29,500 shares of the company’s stock valued at $91,000 after purchasing an additional 11,250 shares during the last quarter. Financial Security Advisor Inc. grew its holdings in shares of Wrap Technologies by 61.3% during the 4th quarter. Financial Security Advisor Inc. now owns 23,688 shares of the company’s stock valued at $73,000 after purchasing an additional 9,000 shares during the last quarter. Welch Group LLC bought a new position in shares of Wrap Technologies during the 4th quarter valued at $218,000. Finally, Raymond James Financial Services Advisors Inc. grew its holdings in shares of Wrap Technologies by 351.2% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 215,250 shares of the company’s stock valued at $667,000 after purchasing an additional 167,547 shares during the last quarter. Institutional investors own 8.82% of the company’s stock.

Wrap Technologies Stock Performance

WRAP stock opened at $2.00 on Friday. Wrap Technologies, Inc. has a 52 week low of $1.21 and a 52 week high of $7.01. The firm’s fifty day moving average is $1.62 and its 200 day moving average is $2.55. The firm has a market cap of $88.42 million, a P/E ratio of -5.26 and a beta of 1.49.

Insider Activity at Wrap Technologies

In other Wrap Technologies news, Director Kevin W. Mullins sold 12,730 shares of the business’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $2.10, for a total value of $26,733.00. Following the transaction, the director now owns 483,421 shares in the company, valued at $1,015,184.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 14.75% of the stock is owned by insiders.

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.