Wrap Technologies, Inc. (NASDAQ:WRTC) is a stock to watch today. At current price of $4.99, the shares have already lost -0.27 points (-5.13% lower) from its previous close of $5.26. The stock sets an active trading volume day with a reported 206977 contracts so far this session. WRTC shares had a relatively better volume day versus average trading capacity of 148.4 thousand shares, but with a 11.61 million float and a -12.48% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for WRTC stock indicates that the average analyst price target is $12.5 per share. This means the stock has a potential increase of 150.5% from where the WRTC share price has been trading recently which is between $5.2 and $5.49. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $12.5.
The shorts are climbing into Wrap Technologies, Inc. (WRTC) stock. The latest set of short interest data was released on 28 June 2019, and the numbers show a rise in short interest in WRTC shares. While short interest still represents only 2.22% of WRTC’s float, the number of shares shorted have risen by 3477. The number of shares shorted advanced to 230543 shares, up from 227066 shares during the preceding fortnight. With average daily trading volumes at 205841 shares, days to cover decreased to about 1.812511 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Wrap Begins Shipment of Updated BolaWrap Device” and dated June 27, 2019.
During the recent trading session for Wrap Technologies, Inc. (NASDAQ:WRTC), the company witnessed their stock drop by $-0.69 over a week and tumble down $-2.1 from the price 20 days ago. When compared to their established 52-week high of $8, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 04/22/19. The recent low of $2.1 stood for a -37.63% since 01/08/18, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0 is also allocated to the stock. Since the beta is less than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Wrap Technologies, Inc., the two-week RSI stands at 29.17. This figure suggests that WRTC stock, for now, is overbought, meaning that the shares are not stable in terms of price movement. The stochastic readings, on the other hand, based on the current WRTC readings is similarly very revealing as it has a stochastic reading of 6.31% at this stage. This figure means that WRTC share price today is being overbought.
Technical chart claims that Wrap Technologies, Inc. (WRTC) would settle between $5.43/share to $5.61/share level. However, if the stock price goes below the $5.14 mark, then the market for Wrap Technologies, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $5.03 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.42. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Chardan Capital Markets, assumed coverage of WRTC assigning Buy rating, according to their opinion released on February 08.
WRTC equity has an average rating of 2, with the figure leaning towards a bullish end. 1 analysts who tracked the company were contacted by Reuters. Amongst them, 0 rated the stock as a hold while the remaining 1 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 1 analysts rated Wrap Technologies, Inc. (NASDAQ:WRTC) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, WRTC stock price is currently trading at 0X forward 12-month Consensus EPS estimates, and its P/S ratio is 1149.57 while for the average stock in the same group, the multiple is 1.82.