Wrap Technologies (WRTC) Receives Buy Rating from Chardan Capital

Wrap Technologies (OTCMKTS:WRTC)‘s stock had its “buy” rating reiterated by equities research analysts at Chardan Capital in a report issued on Thursday, March 21st, AnalystRatings.com reports. They currently have a $12.50 price target on the stock. Chardan Capital’s price target points to a potential upside of 60.26% from the stock’s previous close.

The analysts wrote, “We reiterate our Buy recommendation and $12.50 target We believe Wrap can match the sales trajectory of Taser, and generate sales of $100 million in five to ten years. Taser (now Axon) introduced its first non-lethal restraint device to the law enforcement market in December 1999 and grew sales of this category to $25 million in four years, $100 million in seven years and $250 million currently. Wrap could exceed these results if it is able to build distribution at a faster pace than Taser. Wrap should also benefit from the current environment where the public and law enforcement are calling for new tools in non-lethal restraint.””

WRTC stock traded up $0.30 during midday trading on Thursday, hitting $7.80. 169,523 shares of the company’s stock were exchanged, compared to its average volume of 152,943. Wrap Technologies has a 12-month low of $2.10 and a 12-month high of $9.00.

A hedge fund recently bought a new stake in Wrap Technologies stock. Virtu Financial LLC acquired a new stake in shares of Wrap Technologies Inc (OTCMKTS:WRTC) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 14,741 shares of the company’s stock, valued at approximately $105,000. Virtu Financial LLC owned 0.05% of Wrap Technologies at the end of the most recent reporting period.

Wrap Technologies Company Profile

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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