Wrap Technologies (NASDAQ:WRAP) Shares Down 2.9% – Here’s Why

Wrap Technologies, Inc. (NASDAQ:WRAP) shares traded down 2.9% during trading on Tuesday . The company traded as low as $1.62 and last traded at $1.66. 143,485 shares were traded during trading, a decline of 53% from the average session volume of 303,733 shares. The stock had previously closed at $1.71.

Wrap Technologies Stock Performance

The stock has a fifty day simple moving average of $1.66 and a two-hundred day simple moving average of $1.62. The stock has a market capitalization of $72.04 million, a price-to-earnings ratio of -3.74 and a beta of 1.48.

Wrap Technologies (NASDAQ:WRAP) last released 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 return on equity of 480.59% and a negative net margin of 394.21%.

Insider Transactions at Wrap Technologies

In other news, major shareholder Elwood G. Norris sold 22,186 shares of the stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $1.63, for a total transaction of $36,163.18. Following the transaction, the insider now owns 938,539 shares of the company’s stock, valued at $1,529,818.57. This represents a 2.31 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold a total of 40,000 shares of company stock valued at $64,337 in the last quarter. 18.57% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Main Street Financial Solutions LLC grew its stake in Wrap Technologies by 16.1% in the second quarter. Main Street Financial Solutions LLC now owns 71,941 shares of the company’s stock valued at $144,000 after acquiring an additional 10,000 shares during the period. Wealthspire Advisors LLC acquired a new position in shares of Wrap Technologies during the second quarter worth approximately $90,000. GSA Capital Partners LLP lifted its holdings in shares of Wrap Technologies by 57.5% in the 3rd quarter. GSA Capital Partners LLP now owns 29,656 shares of the company’s stock worth $44,000 after purchasing an additional 10,827 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in Wrap Technologies by 5.2% in the 3rd quarter. Geode Capital Management LLC now owns 344,401 shares of the company’s stock valued at $517,000 after purchasing an additional 17,150 shares during the period. 8.82% of the stock is owned by institutional investors and hedge funds.

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.