Wrap Technologies (NASDAQ:WRAP) Shares Up 2% – Still a Buy?

Wrap Technologies, Inc. (NASDAQ:WRAP)’s stock price traded up 2% during trading on Tuesday . The stock traded as high as $1.68 and last traded at $1.55. 340,478 shares were traded during trading, an increase of 10% from the average session volume of 308,601 shares. The stock had previously closed at $1.52.

Wrap Technologies Stock Performance

The stock has a 50 day moving average of $1.56 and a 200 day moving average of $1.61.

Wrap Technologies (NASDAQ:WRAP) last released its quarterly earnings results on Tuesday, October 15th. The company reported ($0.02) earnings per share for the quarter. The business had revenue of $1.57 million for the quarter. Wrap Technologies had a negative net margin of 295.12% and a negative return on equity of 316.93%.

Insider Transactions at Wrap Technologies

In other news, major shareholder Elwood G. Norris sold 22,186 shares of the business’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $1.63, for a total value of $36,163.18. Following the sale, the insider now owns 938,539 shares of the company’s stock, valued at approximately $1,529,818.57. The trade was a 2.31 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last three months, insiders sold 40,000 shares of company stock valued at $64,337. Company insiders own 14.75% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Virtu Financial LLC purchased a new stake in Wrap Technologies in the 1st quarter worth about $98,000. SG Americas Securities LLC purchased a new position in Wrap Technologies during the first quarter valued at approximately $42,000. Vanguard Group Inc. increased its stake in Wrap Technologies by 11.0% in the 1st 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 during the period. Main Street Financial Solutions LLC lifted 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 worth $144,000 after buying an additional 10,000 shares in the last quarter. Finally, Wealthspire Advisors LLC acquired a new stake in shares of Wrap Technologies during the 2nd quarter valued at $90,000. 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.