Qualstar Corporation (QBAK) Major Shareholder Sells $246,000.00 in Stock

Qualstar Corporation (NASDAQ:QBAK) major shareholder William J. Gervais sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 18th. The stock was sold at an average price of $8.20, for a total value of $246,000.00. Following the sale, the insider now directly owns 275,558 shares of the company’s stock, valued at approximately $2,259,575.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Qualstar Corporation (NASDAQ:QBAK) traded down 5.42% during midday trading on Friday, reaching $7.51. The company had a trading volume of 31,796 shares. The stock’s market capitalization is $15.34 million. The company has a 50-day moving average price of $7.39 and a 200-day moving average price of $6.06. Qualstar Corporation has a one year low of $2.62 and a one year high of $13.20.

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An institutional investor recently raised its position in Qualstar Corporation stock. Wedbush Securities Inc. increased its stake in Qualstar Corporation (NASDAQ:QBAK) by 61.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent quarter. Institutional investors own 15.69% 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.

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