Wrap Technologies Inc. (NASDAQ: WRTC): Stock That Needs Special Handling


BlackRock Fund Advisors recently announced the acquisition of new stake in Wrap Technologies Inc. (NASDAQ:WRTC). The institutional investor has increased its shareholding in the Technology company by 58.67% to 0.64 million shares with purchase of 0.24 million shares. This fresh investment now brings its stake to 1.92% valued currently at $6.32 million. In addition, No Street GP LP raised its holdings by 0.6 million to 0.6 million shares.

With over 1.31 million Wrap Technologies Inc. (WRTC) shares trading Tuesday and a closing price of $9.45 on the day, the dollar volume was approximately $12.35 million. The shares have shown a positive weekly performance of 7.75% and its price on 09/01/20 gained nearly 8.62%. Currently, there are 31.24M common shares owned by the public and among those 20.07M shares have been available to trade.

An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 2 analysts who have offered their price forecasts for WRTC have a consensus price objective of $13.00. The analysts have set the share’s price value over the next 12 months at a high of $14.00 and a low of $12.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Wrap Technologies Inc. stock is 2.00 for the next 12 months. The average price target is 27.31% above its last price level and an upside to the estimated low will see the stock gain 21.25% over that period. But an upside of 32.5% will see the stock hit the forecast high price target while mean target price for the stock is $13.00.

Insiders at the company have transacted a total of 19 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 8 of these insider trades were purchases, accounting for 438,708 shares. Insider sales of the common stock occurred on 11 occasions, with total insider shares sold totaling 1,506,308 shares.

The top 3 mutual fund holders in Wrap Technologies Inc. are Vanguard Total Stock Market Index, iShares Russell 2000 ETF, and Vanguard Extended Market Index Fu. Vanguard Total Stock Market Index owns 0.32 million shares of the company’s stock, all valued at over $3.11 million. iShares Russell 2000 ETF sold 11900.0 shares to see its total holdings shrink to 0.25 million shares valued at over $2.48 million and representing 0.75% of the shares outstanding. Vanguard Extended Market Index Fu now owns shares totaling to 0.36% of the shares outstanding.

Shares of Wrap Technologies Inc. (NASDAQ: WRTC) opened at $9.00, up $0.3 from a prior closing price of $8.70. However, the script later closed the day at $9.45, up 8.62%. The company’s stock has a 5-day price change of 7.75% and 15.81% over the past three months. WRTC shares are trading 47.89% year to date (YTD), with the 12-month market performance up to 135.66% higher. It has a 12-month low price of $3.07 and touched a high of $14.40 over the same period. Currently, 1.31 million shares have been traded, compared to an average intraday trading volume of 1.77 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 7.97%, -7.84%, and 38.26% respectively.

Institutional ownership of Wrap Technologies Inc. (NASDAQ: WRTC) shares accounts for 18.20% of the company’s 31.24M shares outstanding. Mutual fund holders own 3.56%, while other institutional holders and individual stakeholders account for 49.03% and 13.55% respectively.

It has a market capitalization of $330.66M. The earnings-per-share (ttm) stands at -$0.34. Price movements for the stock have been influenced by the stock’s volatility, which stands at 8.47% over the week and 8.99% over the month.

Analysts forecast that Wrap Technologies Inc. (WRTC) will achieve an EPS of -$0.08 for the current quarter, -$0.07 for the next quarter and -$0.2 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.09 while analysts give the company a high EPS estimate of -$0.08. Earnings per share for the fiscal year are expected to decrease by -105.30%, and 39.40% over the next financial year.

If you are looking to buy this stock, then you may note that the average analyst recommendation by 2 brokerage firm advisors rate Wrap Technologies Inc. (WRTC) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 1 of the 2 advise that investors “hold,” and 0 rated it as a “Sell.”

Looking at the support for the WRTC, a number of firms have released research notes about the stock. Northland Capital stated their Market Perform rating for the stock in a research note on July 06, 2020, with the firm’s price target at $7-$12. Northland Capital coverage for the Wrap Technologies Inc. (WRTC) stock in a research note released on March 24, 2020 offered a Outperform rating with a price target of $7. Ladenburg Thalmann was of a view on January 29, 2020 that the stock is Buy, while Northland Capital gave the stock Market Perform rating on December 20, 2019, issuing a price target of $7. Chardan Capital Markets on their part issued Buy rating on February 08, 2019.


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