Wrap Technologies (NASDAQ:WRAP) Stock Price Down 2.9% - What's Next?

Wrap Technologies, Inc. (NASDAQ:WRAP - Get Free Report)'s share price was down 2.9% during trading on Tuesday . The stock traded as low as $1.62 and last traded at $1.66. Approximately 143,485 shares changed hands during trading, a decline of 53% from the average daily volume of 303,733 shares. The stock had previously closed at $1.71.

Wrap Technologies Trading Down 5.4 %

The stock's fifty day moving average price is $1.66 and its 200 day moving average price is $1.62. The stock has a market cap of $72.04 million, a P/E ratio of -3.74 and a beta of 1.48.

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

Insider Buying and Selling at Wrap Technologies

In other Wrap Technologies news, major shareholder Elwood G. Norris sold 22,186 shares of the stock in a transaction 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 transaction, the insider now directly owns 938,539 shares of the company's stock, valued at $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 SEC, which is accessible through this hyperlink. Over the last ninety days, insiders sold 40,000 shares of company stock valued at $64,337. 18.57% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Wrap Technologies

A number of hedge funds have recently modified their holdings of the company. Geode Capital Management LLC increased its position in shares of Wrap Technologies by 5.2% during the third quarter. Geode Capital Management LLC now owns 344,401 shares of the company's stock valued at $517,000 after acquiring an additional 17,150 shares during the last quarter. GSA Capital Partners LLP boosted its stake in shares of Wrap Technologies by 57.5% in 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 during the period. Wealthspire Advisors LLC purchased a new stake in shares of Wrap Technologies during the second quarter worth $90,000. Main Street Financial Solutions LLC raised its position in Wrap Technologies by 16.1% in the 2nd quarter. Main Street Financial Solutions LLC now owns 71,941 shares of the company's stock valued at $144,000 after purchasing an additional 10,000 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Wrap Technologies by 11.0% during the first 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 during the period. Hedge funds and other 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.