Insider Buying: Qualstar Co. (QBAK) CEO Buys 9,082 Shares of Stock

Qualstar Co. (NASDAQ:QBAK) CEO Steven N. Bronson acquired 9,082 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The shares were acquired at an average cost of $5.61 per share, with a total value of $50,950.02. Following the purchase, the chief executive officer now owns 14,617 shares in the company, valued at approximately $82,001.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

NASDAQ QBAK traded up $0.01 during trading hours on Thursday, hitting $5.76. 3,811 shares of the company’s stock traded hands, compared to its average volume of 7,053. Qualstar Co. has a 52-week low of $4.51 and a 52-week high of $9.51. The stock has a market cap of $11.26 million, a PE ratio of 11.27 and a beta of 0.45. The company has a current ratio of 3.63, a quick ratio of 2.57 and a debt-to-equity ratio of 0.02.

Qualstar (NASDAQ:QBAK) last announced its quarterly earnings data on Thursday, March 7th. The electronics maker reported $0.01 earnings per share (EPS) for the quarter. The company had revenue of $2.91 million during the quarter. Qualstar had a net margin of 8.53% and a return on equity of 14.37%.

An institutional investor recently raised its position in Qualstar stock. Wedbush Securities Inc. raised its position in Qualstar Co. (NASDAQ:QBAK) by 8.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 59,001 shares of the electronics maker’s stock after purchasing an additional 4,593 shares during the quarter. Wedbush Securities Inc. owned about 2.88% of Qualstar worth $310,000 as of its most recent SEC filing. 16.07% of the stock is owned by institutional investors.

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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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