Qualstar Corporation (QBAK) Major Shareholder Sells $70,500.00 in Stock
Qualstar Corporation (NASDAQ:QBAK) major shareholder William J. Gervais sold 10,000 shares of Qualstar Corporation stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $7.05, for a total transaction of $70,500.00. Following the sale, the insider now directly owns 220,558 shares of the company’s stock, valued at approximately $1,554,933.90. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.
Shares of Qualstar Corporation (QBAK) traded down 1.47% during mid-day trading on Friday, hitting $7.35. 22,693 shares of the company traded hands. The firm has a 50-day moving average of $7.60 and a 200-day moving average of $6.37. The stock’s market capitalization is $15.01 million. Qualstar Corporation has a one year low of $2.62 and a one year high of $13.20.
An institutional investor recently raised its position in Qualstar Corporation stock. Wedbush Securities Inc. boosted its stake in shares of Qualstar Corporation (NASDAQ:QBAK) by 61.6% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 52,472 shares of the electronics maker’s stock after buying an additional 20,006 shares during the quarter. Wedbush Securities Inc. owned approximately 2.57% of Qualstar Corporation worth $269,000 as of its most recent SEC filing. 14.18% of the stock is owned by hedge funds and other institutional investors.
Qualstar Corporation Company Profile
Qualstar Corporation is a provider of data storage systems marketed under the Qualstar brand and of power solutions marketed under the N2Power brand. The Company’s segments include Power Supplies and Data Storage. Under the Power Supplies segment, it designs, manufactures and sells open frame switching power supplies.
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