Qualstar Co. (NASDAQ:QBAK) was the target of a significant decrease in short interest in the month of June. As of June 30th, there was short interest totalling 3,500 shares, a decrease of 31.4% from the May 30th total of 5,100 shares. Currently, 0.3% of the company’s stock are short sold. Based on an average daily volume of 4,800 shares, the days-to-cover ratio is presently 0.7 days.
In other Qualstar news, CEO Steven N. Bronson acquired 13,187 shares of the business’s stock in a transaction on Monday, May 13th. The shares were acquired at an average price of $4.69 per share, for a total transaction of $61,847.03. Following the completion of the acquisition, the chief executive officer now owns 14,617 shares in the company, valued at $68,553.73. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Steven N. Bronson acquired 6,951 shares of the business’s stock in a transaction on Tuesday, May 28th. The stock was acquired at an average price of $5.90 per share, for a total transaction of $41,010.90. Following the acquisition, the chief executive officer now owns 14,617 shares of the company’s stock, valued at approximately $86,240.30. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 77,078 shares of company stock worth $409,805. Corporate insiders own 36.00% of the company’s stock.
An institutional investor recently raised its position in Qualstar stock. Wedbush Securities Inc. boosted its stake in shares of Qualstar Co. (NASDAQ:QBAK) by 10.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 65,155 shares of the electronics maker’s stock after purchasing an additional 6,154 shares during the period. Wedbush Securities Inc. owned about 3.26% of Qualstar worth $357,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 16.37% of the company’s stock.
Shares of NASDAQ:QBAK traded down $0.06 during trading on Friday, reaching $5.60. 7,639 shares of the stock traded hands, compared to its average volume of 2,389. The firm’s 50-day moving average price is $5.79. Qualstar has a 52-week low of $4.51 and a 52-week high of $9.18. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.57 and a current ratio of 3.63. The company has a market capitalization of $11.07 million, a PE ratio of 11.10 and a beta of 0.37.
Qualstar (NASDAQ:QBAK) last posted its quarterly earnings results on Tuesday, May 7th. The electronics maker reported $0.07 EPS for the quarter. Qualstar had a net margin of 8.53% and a return on equity of 14.37%. The firm had revenue of $2.86 million for the quarter.
Qualstar Company Profile
Qualstar Corporation engages in power solutions and data storage systems businesses worldwide. It provides data storage systems under the Qualstar brand and power solutions under the N2Power brand. The company designs, manufactures, and sells switching power supplies that are used to convert AC line voltage to DC voltages, or DC voltages to other DC voltages for use in various electronic equipment, such as telecommunications equipment, machine tools, routers, switches, wireless systems and gaming devices.
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