Chardan Capital restated their buy rating on shares of Wrap Technologies (OTCMKTS:WRTC) in a research note released on Thursday. They currently have a $12.50 price target on the stock.

“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.”,” Chardan Capital’s analyst wrote.

Shares of OTCMKTS:WRTC opened at $6.54 on Thursday. Wrap Technologies has a one year low of $2.10 and a one year high of $9.00.

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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