Wrap Technologies (NASDAQ:WRAP) Stock Price Up 2% – Should You Buy?

Wrap Technologies, Inc. (NASDAQ:WRAP) shares traded up 2% during mid-day trading on Tuesday . The company traded as high as $1.68 and last traded at $1.55. 340,478 shares traded hands during trading, an increase of 10% from the average session volume of 308,601 shares. The stock had previously closed at $1.52.

Wrap Technologies Trading Up 2.0 %

The company has a market cap of $71.10 million, a P/E ratio of -2.92 and a beta of 1.51. The company has a 50-day simple moving average of $1.56 and a 200 day simple moving average of $1.61.

Wrap Technologies (NASDAQ:WRAP) last posted its quarterly earnings results on Tuesday, October 15th. The company reported ($0.02) EPS for the quarter. The company had revenue of $1.57 million during the quarter. Wrap Technologies had a negative return on equity of 316.93% and a negative net margin of 295.12%.

Insider Activity at Wrap Technologies

In other Wrap Technologies news, major shareholder Elwood G. Norris sold 22,186 shares of Wrap Technologies stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $1.63, for a total transaction of $36,163.18. Following the completion of the sale, the insider now directly owns 938,539 shares of the company’s stock, valued at $1,529,818.57. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last quarter, insiders sold 40,000 shares of company stock worth $64,337. Company insiders own 14.75% of the company’s stock.

Institutional Investors Weigh In On Wrap Technologies

Several large investors have recently modified their holdings of the business. SG Americas Securities LLC bought a new position in Wrap Technologies in the first quarter worth approximately $42,000. GSA Capital Partners LLP boosted its position in Wrap Technologies by 57.5% during the third quarter. GSA Capital Partners LLP now owns 29,656 shares of the company’s stock valued at $44,000 after purchasing an additional 10,827 shares in the last quarter. Wealthspire Advisors LLC purchased a new position in Wrap Technologies in the second quarter valued at about $90,000. Virtu Financial LLC bought a new position in Wrap Technologies in the first quarter worth about $98,000. Finally, NorthRock Partners LLC lifted its position in shares of Wrap Technologies by 68.1% during the first quarter. NorthRock Partners LLC now owns 62,344 shares of the company’s stock valued at $141,000 after buying an additional 25,252 shares during the last quarter. Institutional investors own 8.82% of the company’s stock.

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.