Wrap Technologies (OTCMKTS:WRTC) Lifted to Outperform at Northland Securities

Northland Securities upgraded shares of Wrap Technologies (OTCMKTS:WRTC) from a market perform rating to an outperform rating in a report published on Tuesday, The Fly reports. They currently have $7.00 target price on the stock.

Separately, LADENBURG THALM/SH SH started coverage on Wrap Technologies in a research report on Wednesday, January 29th. They set a buy rating and a $11.35 price target on the stock.

OTCMKTS:WRTC opened at $4.25 on Tuesday. Wrap Technologies has a 1-year low of $3.07 and a 1-year high of $8.00. The business’s fifty day moving average price is $5.82 and its 200 day moving average price is $5.18.

Wrap Technologies (OTCMKTS:WRTC) last posted its quarterly earnings results on Tuesday, March 10th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.01).

A number of hedge funds and other institutional investors have recently modified their holdings of WRTC. Seelaus Asset Management LLC grew its stake in Wrap Technologies by 11.1% in the fourth quarter. Seelaus Asset Management LLC now owns 24,450 shares of the company’s stock valued at $156,000 after purchasing an additional 2,450 shares in the last quarter. State Street Corp grew its stake in Wrap Technologies by 5.7% in the fourth quarter. State Street Corp now owns 112,436 shares of the company’s stock valued at $718,000 after purchasing an additional 6,111 shares in the last quarter. Sterling Investment Advisors Ltd. purchased a new position in Wrap Technologies in the fourth quarter valued at about $25,000. Barclays PLC grew its stake in Wrap Technologies by 335.3% in the fourth quarter. Barclays PLC now owns 17,831 shares of the company’s stock valued at $114,000 after purchasing an additional 13,735 shares in the last quarter. Finally, NorthRock Partners LLC boosted its stake in shares of Wrap Technologies by 83.3% during the 4th quarter. NorthRock Partners LLC now owns 55,000 shares of the company’s stock worth $351,000 after acquiring an additional 25,000 shares in the last quarter.

About Wrap Technologies

Wrap Technologies, Inc develops security products for law enforcement and security personnel. It develops BolaWrap, a hand-held remote restraint device to control an individual or impede flight by targeting and wrapping an individual's legs. The company was founded in 2016 and is headquartered in Las Vegas, Nevada.

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