Chardan Capital Keeps Their Buy Rating on Wrap Technologies Inc (WRTC)

By Austin Angelo

Chardan Capital analyst James McIlree reiterated a Buy rating on Wrap Technologies Inc (WRTCResearch Report) yesterday and set a price target of $12.50. The company’s shares closed yesterday at $6.95.

McIlree observed:

“We believe training instructors will continue to be a key element in the company’s success in the market and at the end of May had trained 375 instructors at over 60 agencies across the US.”

According to TipRanks.com, McIlree is a 1-star analyst with an average return of -3.7% and a 40.5% success rate. McIlree covers the Consumer Goods sector, focusing on stocks such as Foresight Autonomous Holdings Ltd, Vuzix Corporation, and KEYW Holding.

Wrap Technologies Inc has an analyst consensus of Moderate Buy, with a price target consensus of $12.50.

See today’s analyst top recommended stocks >>

Based on Wrap Technologies Inc’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $1.48 million. In comparison, last year the company had a GAAP net loss of $435.4K.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Wrap Technologies, Inc operates as a development stage security technology company. It focuses on delivering solutions to customers, primarily law enforcement and security personnel.