Wrap Technologies (NASDAQ:WRAP) Stock Price Down 5.3% – Here’s Why

Wrap Technologies, Inc. (NASDAQ:WRAP) fell 5.3% during mid-day trading on Thursday . The stock traded as low as $1.97 and last traded at $1.98. 84,943 shares were traded during mid-day trading, a decline of 57% from the average session volume of 199,718 shares. The stock had previously closed at $2.09.

Wrap Technologies Stock Performance

The company has a market cap of $90.85 million, a price-to-earnings ratio of -4.71 and a beta of 1.37. The firm’s 50-day moving average price is $2.09 and its 200 day moving average price is $1.81.

Institutional Trading of Wrap Technologies

Several institutional investors and hedge funds have recently made changes to their positions in WRAP. Caption Management LLC boosted its position in shares of Wrap Technologies by 1,083.0% in the 4th quarter. Caption Management LLC now owns 162,462 shares of the company’s stock worth $344,000 after purchasing an additional 178,990 shares during the last quarter. Jane Street Group LLC acquired a new position in Wrap Technologies in the fourth quarter valued at about $70,000. Two Sigma Securities LLC bought a new position in Wrap Technologies during the fourth quarter worth about $33,000. Marshall Wace LLP acquired a new position in shares of Wrap Technologies during the 4th quarter worth about $271,000. Finally, XTX Topco Ltd bought a new stake in shares of Wrap Technologies in the 4th quarter valued at about $58,000. 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.