Wrap Technologies (NASDAQ:WRAP) Stock Price Down 2.9% – Time to Sell?

Wrap Technologies, Inc. (NASDAQ:WRAP)’s share price fell 2.9% during mid-day trading on Tuesday . The stock traded as low as $1.62 and last traded at $1.66. 143,485 shares changed hands during mid-day trading, a decline of 53% from the average session volume of 303,733 shares. The stock had previously closed at $1.71.

Wrap Technologies Price Performance

The firm’s 50 day moving average is $1.66 and its 200 day moving average is $1.62. The company has a market capitalization of $76.17 million, a PE ratio of -3.95 and a beta of 1.48.

Wrap Technologies (NASDAQ:WRAP) last announced its earnings results on Tuesday, October 15th. The company reported ($0.02) EPS for the quarter. The business had revenue of $1.57 million for the quarter. Wrap Technologies had a negative net margin of 394.21% and a negative return on equity of 480.59%.

Insider Transactions at Wrap Technologies

In other news, major shareholder Elwood G. Norris sold 22,186 shares of Wrap Technologies stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 938,539 shares in the company, valued at approximately $1,529,818.57. This trade represents a 2.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders sold 40,000 shares of company stock valued at $64,337. Corporate insiders own 18.57% of the company’s stock.

Hedge Funds Weigh In On Wrap Technologies

Several institutional investors and hedge funds have recently modified their holdings of WRAP. Vanguard Group Inc. increased its holdings in Wrap Technologies by 11.0% in the 1st quarter. Vanguard Group Inc. now owns 1,221,563 shares of the company’s stock worth $2,761,000 after buying an additional 120,764 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Wrap Technologies by 5.2% in the third quarter. Geode Capital Management LLC now owns 344,401 shares of the company’s stock worth $517,000 after acquiring an additional 17,150 shares during the period. Main Street Financial Solutions LLC grew its holdings in Wrap Technologies by 16.1% during the 2nd quarter. Main Street Financial Solutions LLC now owns 71,941 shares of the company’s stock valued at $144,000 after buying an additional 10,000 shares in the last quarter. Wealthspire Advisors LLC bought a new position in shares of Wrap Technologies during the second quarter worth $90,000. Finally, GSA Capital Partners LLP grew its position in shares of 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. 8.82% of the stock is currently owned by 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.