Wrap Technologies (NASDAQ:WRAP) Stock Price Down 6%

Wrap Technologies, Inc. (NASDAQ:WRAP – Get Rating) traded down 6% during mid-day trading on Wednesday . The company traded as low as $1.07 and last traded at $1.10. 187,304 shares changed hands during mid-day trading, an increase of 113% from the average session volume of 87,944 shares. The stock had previously closed at $1.17.

Wrap Technologies Price Performance

The stock’s fifty day simple moving average is $1.42 and its 200-day simple moving average is $1.88. The stock has a market cap of $45.83 million, a P/E ratio of -2.75 and a beta of 1.58.

Wrap Technologies (NASDAQ:WRAP – Get Rating) last issued its earnings results on Wednesday, March 1st. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.01). Wrap Technologies had a negative return on equity of 57.17% and a negative net margin of 226.42%. The business had revenue of $3.58 million during the quarter, compared to the consensus estimate of $3.27 million.

Institutional Investors Weigh In On Wrap Technologies

A number of hedge funds have recently made changes to their positions in WRAP. Mariner LLC bought a new stake in shares of Wrap Technologies during the first quarter valued at approximately $380,000. Advisor Group Holdings Inc. raised its holdings in shares of Wrap Technologies by 232.1% during the fourth quarter. Advisor Group Holdings Inc. now owns 67,536 shares of the company’s stock valued at $114,000 after buying an additional 47,200 shares during the last quarter. Cetera Advisor Networks LLC bought a new stake in shares of Wrap Technologies during the second quarter valued at approximately $84,000. Millennium Management LLC raised its holdings in shares of Wrap Technologies by 19.1% during the fourth quarter. Millennium Management LLC now owns 236,697 shares of the company’s stock valued at $400,000 after buying an additional 38,025 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. bought a new stake in shares of Wrap Technologies during the first quarter valued at approximately $37,000. Institutional investors own 9.75% of the company’s stock.

Wrap Technologies Company Profile

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Wrap Technologies, Inc is a global public safety technology and service company, which engages in the provision of modern policing solutions to law enforcement and security personnel. Its products include BolaWrap Remote Restraint Device and Wrap Reality. The company was founded by Elwood G. Norris, Scot J.