Wrap Technologies (NASDAQ:WRAP) Shares Down 5.3% – Here’s What Happened

Shares of Wrap Technologies, Inc. (NASDAQ:WRAP) traded down 5.3% during mid-day trading on Thursday . The stock traded as low as $1.97 and last traded at $1.98. 84,943 shares changed hands during trading, a decline of 57% from the average session volume of 199,718 shares. The stock had previously closed at $2.09.

Wrap Technologies Stock Down 4.0 %

The stock has a 50-day simple moving average of $2.08 and a 200 day simple moving average of $1.82. The company has a market cap of $87.18 million, a PE ratio of -4.52 and a beta of 1.37.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of WRAP. Two Sigma Securities LLC acquired a new stake in shares of Wrap Technologies in the fourth quarter valued at $33,000. Virtu Financial LLC purchased a new position in shares of Wrap Technologies in the fourth quarter valued at approximately $45,000. Sapient Capital LLC purchased a new position in shares of Wrap Technologies in the fourth quarter valued at approximately $53,000. XTX Topco Ltd acquired a new position in shares of Wrap Technologies in the fourth quarter valued at approximately $58,000. Finally, FNY Investment Advisers LLC purchased a new stake in Wrap Technologies during the 4th quarter worth approximately $63,000. Hedge funds and other institutional investors own 8.82% of the company’s stock.

About Wrap Technologies

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.