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

Wrap Technologies, Inc. (NASDAQ:WRAP) was the recipient of unusually large options trading activity on Thursday. Traders purchased 7,521 call options on the stock. This is an increase of 1,568% compared to the typical daily volume of 451 call options.

Hedge Funds Weigh In On Wrap Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in WRAP. Raymond James Financial Inc. raised its stake 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 purchasing an additional 36,429 shares during the period. Geode Capital Management LLC raised its position in shares of Wrap Technologies by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 407,287 shares of the company’s stock valued at $970,000 after purchasing an additional 6,340 shares during the period. Renaissance Technologies LLC raised its position in shares of Wrap Technologies by 236.0% in the fourth quarter. Renaissance Technologies LLC now owns 156,900 shares of the company’s stock valued at $373,000 after purchasing an additional 110,200 shares during the period. State Street Corp lifted its stake in shares of Wrap Technologies by 16.2% during the 4th quarter. State Street Corp now owns 129,667 shares of the company’s stock valued at $309,000 after buying an additional 18,100 shares in the last quarter. Finally, Jane Street Group LLC boosted its holdings in Wrap Technologies by 417.6% in the 4th quarter. Jane Street Group LLC now owns 120,272 shares of the company’s stock worth $286,000 after buying an additional 97,035 shares during the period. Institutional investors own 8.82% of the company’s stock.

Wall Street Analysts Forecast Growth

WRAP has been the subject of a number of research analyst reports. Wall Street Zen cut shares of Wrap Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Weiss Ratings cut Wrap Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, May 18th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Wrap Technologies has an average rating of “Sell”.

Wrap Technologies Trading Up 37.4%

NASDAQ:WRAP traded up $0.59 during trading hours on Thursday, hitting $2.19. 24,474,013 shares of the company were exchanged, compared to its average volume of 470,137. The stock has a market capitalization of $121.79 million, a price-to-earnings ratio of -7.36 and a beta of 1.37. Wrap Technologies has a one year low of $1.04 and a one year high of $3.23. The company has a fifty day simple moving average of $1.38 and a 200 day simple moving average of $1.73.

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

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.