Wrap Technologies (NASDAQ:WRAP) Major Shareholder Elwood Norris Sells 50,000 Shares

by · The Markets Daily

Wrap Technologies, Inc. (NASDAQ:WRAP – Get Free Report) major shareholder Elwood Norris sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, October 23rd. The stock was sold at an average price of $2.52, for a total value of $126,000.00. Following the sale, the insider directly owned 419,867 shares of the company’s stock, valued at $1,058,064.84. This represents a 10.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Wrap Technologies Stock Performance

WRAP traded down $0.20 during mid-day trading on Thursday, reaching $2.28. 447,625 shares of the stock were exchanged, compared to its average volume of 397,440. The company has a 50 day moving average price of $2.46 and a two-hundred day moving average price of $2.13. The stock has a market capitalization of $117.44 million, a PE ratio of -7.60 and a beta of 1.43. Wrap Technologies, Inc. has a 1 year low of $1.20 and a 1 year high of $3.23.

Wrap Technologies (NASDAQ:WRAP – Get Free Report) last released its earnings results on Wednesday, November 12th. The company reported ($0.06) earnings per share (EPS) for the quarter. The business had revenue of $3.51 million during the quarter. Wrap Technologies had a negative net margin of 300.11% and a negative return on equity of 194.93%.

Key Wrap Technologies News

Here are the key news stories impacting Wrap Technologies this week:

  • Positive Sentiment: Launched a next‑generation, U.S.‑produced, NDAA‑compliant WrapVision body‑worn camera platform (IONODES PERCEPT BC200). This targets regulated public‑safety and enterprise procurement (NDAA compliance and U.S. country‑of‑origin improve eligibility for many government contracts). Wrap Advances WrapVision (GlobeNewswire)
  • Neutral Sentiment: Technicals and trading: volume is modestly above average and the stock sits between its 50‑day (~$2.46) and 200‑day (~$2.13) moving averages — a mixed technical picture that can amplify moves from news or insider activity.
  • Negative Sentiment: Significant insider selling by major shareholder Elwood G. Norris across many transactions (Oct–Nov filings show repeated large share sales and material reductions in his holdings). Heavy, disclosed sales by a >10% holder can increase supply and signal reduced insider conviction, pressuring the share price. SEC Insider Sale Filings
  • Negative Sentiment: Recent fundamentals remain weak: last reported quarter showed a small loss per share, negative margins and limited revenue (~$3.5M), which keeps investor focus on cash‑flow and contract wins rather than near‑term profitability.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on WRAP shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Wrap Technologies in a research report on Friday, January 9th. Wall Street Zen raised shares of Wrap Technologies from a “sell” rating to a “hold” rating in a research note on Friday, October 3rd. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Sell”.

Check Out Our Latest Stock Analysis on WRAP

Hedge Funds Weigh In On Wrap Technologies

Hedge funds and other institutional investors have recently modified their holdings of the company. Raymond James Financial Inc. grew its stake in shares of Wrap Technologies by 6.0% in the third quarter. Raymond James Financial Inc. now owns 646,853 shares of the company’s stock worth $1,404,000 after purchasing an additional 36,429 shares during the last quarter. Squarepoint Ops LLC lifted its holdings in Wrap Technologies by 45.3% in the 3rd quarter. Squarepoint Ops LLC now owns 50,209 shares of the company’s stock worth $109,000 after buying an additional 15,650 shares during the period. Vanguard Group Inc. lifted its holdings in Wrap Technologies by 6.3% in the 3rd quarter. Vanguard Group Inc. now owns 1,660,908 shares of the company’s stock worth $3,604,000 after buying an additional 98,782 shares during the period. Osaic Holdings Inc. grew its position in shares of Wrap Technologies by 13.6% in the 2nd quarter. Osaic Holdings Inc. now owns 53,708 shares of the company’s stock worth $84,000 after buying an additional 6,442 shares during the last quarter. Finally, XTX Topco Ltd purchased a new position in shares of Wrap Technologies during the second quarter valued at approximately $32,000. 8.82% of the stock is owned by institutional investors.

About Wrap Technologies

(Get Free Report)

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.

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