Wrap Technologies (NASDAQ:WRAP) Shares Up 2.3% – Time to Buy?

Wrap Technologies, Inc. (NASDAQ:WRAP)’s share price shot up 2.3% on Thursday . The stock traded as high as $2.06 and last traded at $2.03. 74,152 shares changed hands during trading, a decline of 63% from the average session volume of 201,460 shares. The stock had previously closed at $1.98.

Wrap Technologies Trading Down 2.0 %

The business’s fifty day moving average price is $1.92 and its 200-day moving average price is $1.70. The company has a market capitalization of $91.30 million, a P/E ratio of -4.74 and a beta of 1.38.

Hedge Funds Weigh In On Wrap Technologies

A number of large investors have recently modified their holdings of the company. Sapient Capital LLC purchased a new stake in Wrap Technologies in the fourth quarter worth approximately $53,000. GSA Capital Partners LLP lifted its holdings in shares of Wrap Technologies by 57.5% in the 3rd quarter. GSA Capital Partners LLP now owns 29,656 shares of the company’s stock worth $44,000 after acquiring an additional 10,827 shares during the last quarter. FNY Investment Advisers LLC purchased a new stake in shares of Wrap Technologies in the 4th quarter valued at $63,000. Geode Capital Management LLC grew its holdings in shares of Wrap Technologies by 5.2% during the 3rd quarter. Geode Capital Management LLC now owns 344,401 shares of the company’s stock valued at $517,000 after purchasing an additional 17,150 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Wrap Technologies in the 4th quarter worth $1,906,000. 8.82% of the stock is owned by hedge funds and other institutional investors.

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.