Qualstar Corporation (QBAK) Major Shareholder Sells $231,500.00 in Stock

Qualstar Corporation (NASDAQ:QBAK) major shareholder William J. Gervais sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $9.26, for a total value of $231,500.00. Following the sale, the insider now directly owns 250,558 shares in the company, valued at $2,320,167.08. The sale was disclosed in a filing with the SEC, which is available through this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Shares of Qualstar Corporation (NASDAQ:QBAK) opened at 7.92 on Thursday. Qualstar Corporation has a one year low of $2.62 and a one year high of $13.20. The stock’s market capitalization is $16.17 million. The stock’s 50 day moving average price is $7.24 and its 200 day moving average price is $6.02.

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An institutional investor recently raised its position in Qualstar Corporation stock. Wedbush Securities Inc. increased its position in Qualstar Corporation (NASDAQ:QBAK) by 61.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). 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 about 2.57% of Qualstar Corporation worth $269,000 at the end of the most recent reporting period. 15.69% of the stock is owned by institutional investors and hedge funds.

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.