Traders Purchase Large Volume of Wrap Technologies Call Options (NASDAQ:WRAP)

Wrap Technologies, Inc. (NASDAQ:WRAP) saw unusually large options trading activity on Wednesday. Investors bought 8,282 call options on the stock. This represents an increase of 690% compared to the average daily volume of 1,048 call options.

Insider Activity

In other news, Director John D. Shulman acquired 100,000 shares of the stock in a transaction on Wednesday, July 8th. The shares were purchased at an average cost of $1.10 per share, for a total transaction of $110,000.00. Following the transaction, the director owned 199,037 shares in the company, valued at approximately $218,940.70. This trade represents a 100.97% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 33.26% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. XTX Topco Ltd acquired a new stake in shares of Wrap Technologies during the second quarter worth $32,000. Osaic Holdings Inc. lifted its holdings in shares of Wrap Technologies by 13.6% during the second quarter. Osaic Holdings Inc. now owns 53,708 shares of the company’s stock worth $84,000 after purchasing an additional 6,442 shares during the period. Vanguard Group Inc. boosted its holdings in Wrap Technologies by 6.3% in the third quarter. Vanguard Group Inc. now owns 1,660,908 shares of the company’s stock valued at $3,604,000 after acquiring an additional 98,782 shares during the last quarter. Squarepoint Ops LLC boosted its position in Wrap Technologies by 45.3% during the third quarter. Squarepoint Ops LLC now owns 50,209 shares of the company’s stock valued at $109,000 after acquiring an additional 15,650 shares during the last quarter. Finally, Raymond James Financial Inc. grew its position in shares of Wrap Technologies by 6.0% during the 3rd quarter. Raymond James Financial Inc. now owns 646,853 shares of the company’s stock worth $1,404,000 after buying an additional 36,429 shares during the period. 8.82% of the stock is owned by institutional investors and hedge funds.

Wrap Technologies Trading Down 4.3%

Shares of WRAP traded down $0.07 during trading hours on Wednesday, hitting $1.66. 323,183 shares of the stock traded hands, compared to its average volume of 912,986. The firm has a market capitalization of $92.25 million, a PE ratio of -5.52 and a beta of 1.37. Wrap Technologies has a 1-year low of $1.04 and a 1-year high of $3.23. The business has a fifty day moving average of $1.53 and a 200-day moving average of $1.69.

Wrap Technologies (NASDAQ:WRAP) last released its earnings results on Wednesday, May 13th. The company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.01. The firm had revenue of $1.11 million during the quarter, compared to analyst estimates of $1.61 million. Wrap Technologies had a negative net margin of 270.03% and a negative return on equity of 115.68%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Wall Street Zen lowered shares of Wrap Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Weiss Ratings lowered Wrap Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, May 18th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has a consensus rating of “Sell”.

About Wrap Technologies

Wrap Technologies, Inc (NASDAQ: WRAP) is a designer and manufacturer of less-lethal restraint devices aimed at law enforcement and security professionals. Its flagship product, the BolaWrap®, is a handheld remote restraint tool that deploys a Kevlar-reinforced cord to safely immobilize individuals from a distance of up to 25 feet. The system is engineered to support de-escalation tactics and reduce reliance on physical force in high-risk encounters.

Based in Scottsdale, Arizona, Wrap Technologies oversees product development, testing and training at its headquarters.