Insider Selling: Qualstar Corporation (QBAK) Insider Sells 30,000 Shares of Stock
Qualstar Corporation (NASDAQ:QBAK) insider William J. Gervais sold 30,000 shares of the stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $7.65, for a total transaction of $229,500.00. Following the transaction, the insider now directly owns 170,558 shares of the company’s stock, valued at approximately $1,304,768.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Shares of Qualstar Corporation (QBAK) traded up $1.56 during mid-day trading on Friday, reaching $8.76. 212,896 shares of the company’s stock traded hands, compared to its average volume of 37,171.
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An institutional investor recently raised its position in Qualstar Corporation stock. Wedbush Securities Inc. boosted its stake in shares of Qualstar Corporation (NASDAQ:QBAK) by 61.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 52,472 shares of the electronics maker’s stock after buying an additional 20,006 shares during the quarter. Wedbush Securities Inc. owned 2.57% of Qualstar Corporation worth $269,000 as of its most recent SEC filing. 14.20% of the stock is currently owned by institutional investors.
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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