Insider Selling: Qualstar Corporation (NASDAQ:QBAK) Major Shareholder Sells 20,000 Shares of Stock

Qualstar Corporation (NASDAQ:QBAK) major shareholder William J. Gervais sold 20,000 shares of the firm’s stock in a transaction on Friday, July 14th. The shares were sold at an average price of $6.30, for a total value of $126,000.00. Following the completion of the sale, the insider now owns 295,558 shares in the company, valued at $1,862,015.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Shares of Qualstar Corporation (NASDAQ:QBAK) opened at 7.32 on Friday. The stock’s 50 day moving average is $7.01 and its 200-day moving average is $5.90. The firm’s market capitalization is $14.95 million. Qualstar Corporation has a 52-week low of $2.62 and a 52-week high of $13.20.

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An institutional investor recently raised its position in Qualstar Corporation stock. Wedbush Securities Inc. raised its stake in shares of Qualstar Corporation (NASDAQ:QBAK) by 61.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 52,472 shares of the electronics maker’s stock after buying an additional 20,006 shares during the period. Wedbush Securities Inc. owned approximately 2.57% of Qualstar Corporation worth $269,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 14.71% of the company’s stock.

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.

Insider Buying and Selling by Quarter for Qualstar Corporation (NASDAQ:QBAK)

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