Insider Selling: Wrap Technologies, Inc. (NASDAQ:WRAP) Major Shareholder Sells 12,814 Shares of Stock

Wrap Technologies, Inc. (NASDAQ:WRAP) major shareholder Elwood G. Norris sold 12,814 shares of Wrap Technologies stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $1.59, for a total value of $20,374.26. Following the transaction, the insider now owns 970,725 shares of the company’s stock, valued at $1,543,452.75. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Wrap Technologies Stock Down 1.8 %

Wrap Technologies stock opened at $1.68 on Wednesday. The business’s 50-day moving average price is $1.53 and its 200 day moving average price is $1.65. The firm has a market cap of $74.28 million, a price-to-earnings ratio of -4.42 and a beta of 1.54. Wrap Technologies, Inc. has a 52 week low of $1.21 and a 52 week high of $7.01.

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Wealthspire Advisors LLC acquired a new stake in shares of Wrap Technologies during the 2nd quarter valued at about $90,000. Main Street Financial Solutions LLC boosted its position in Wrap Technologies by 16.1% during the second quarter. Main Street Financial Solutions LLC now owns 71,941 shares of the company’s stock worth $144,000 after purchasing an additional 10,000 shares in the last quarter. Virtu Financial LLC acquired a new stake in Wrap Technologies in the first quarter valued at approximately $98,000. Vanguard Group Inc. increased its position in shares of Wrap Technologies by 11.0% in the first quarter. Vanguard Group Inc. now owns 1,221,563 shares of the company’s stock valued at $2,761,000 after buying an additional 120,764 shares in the last quarter. Finally, NorthRock Partners LLC increased its position in shares of Wrap Technologies by 68.1% in 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 in the last quarter. Institutional investors and hedge funds own 8.82% of the company’s stock.

About Wrap Technologies

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.