An interesting stock that came up in some of our conversations today is Wrap Technologies, Inc. (NASDAQ:WRTC). At current price of $3.6, the shares have already added 0.21 points (6.19% higher) from its previous close of $3.39. Should you buy or avoid them? The stock sets an active trading volume day with a reported 149482 contracts so far this session. WRTC shares had a relatively better volume day versus average trading capacity of 91.41 million shares, but with a 11.47 million float and a -13.74% 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 $9 per share. This means the stock has a potential increase of 150% from where the WRTC share price has been trading recently which is between $3.19 and $3.39. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $9. Flipping the other side of the coin, an analyst who is fully bullish set a price target as high as $9.
During the recent trading session for Wrap Technologies, Inc. (NASDAQ:WRTC), the company witnessed their stock drop by $-0.01 over a week and surge $0.12 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 $2.89 stood for a -55% since 12/24/18, 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. At the moment, the median target price for WRTC is set at $9, a figure which is above the recent 1-year high the stock witnessed.
Looking at the current readings for Wrap Technologies, Inc., the two-week RSI stands at 48.59. This figure suggests that WRTC stock, for now, is neutral, meaning that the shares are 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 31.27% at this stage. This figure means that WRTC share price today is being neutral.
Technical chart claims that Wrap Technologies, Inc. (WRTC) would settle between $3.46/share to $3.52/share level. However, if the stock price goes below the $3.26 mark, then the market for Wrap Technologies, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $3.12 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.17. 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/E ratio is 0 while for the average stock in the same group, the multiple is 23.9. Wrap Technologies, Inc. current P/B ratio of 4.9 means it is trading at a premium against its industry’s 4.2.