Qualstar Co. (NASDAQ:QBAK) saw a significant decline in short interest during the month of June. As of June 30th, there was short interest totalling 3,500 shares, a decline of 31.4% from the May 30th total of 5,100 shares. Based on an average trading volume of 4,800 shares, the days-to-cover ratio is presently 0.7 days. Currently, 0.3% of the shares of the stock are sold short.

In related news, CEO Steven N. Bronson purchased 19,194 shares of the business’s stock in a transaction dated Wednesday, May 15th. The stock was bought at an average cost of $4.79 per share, with a total value of $91,939.26. Following the completion of the acquisition, the chief executive officer now directly owns 14,617 shares in the company, valued at approximately $70,015.43. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Steven N. Bronson purchased 9,451 shares of the business’s stock in a transaction dated Thursday, May 30th. The stock was bought at an average cost of $5.92 per share, with a total value of $55,949.92. Following the completion of the acquisition, the chief executive officer now owns 14,617 shares of the company’s stock, valued at $86,532.64. The disclosure for this purchase can be found here. Over the last three months, insiders bought 77,078 shares of company stock valued at $409,805. Insiders own 36.00% of the company’s stock.

An institutional investor recently raised its position in Qualstar stock. Wedbush Securities Inc. boosted its holdings in Qualstar Co. (NASDAQ:QBAK) by 10.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 65,155 shares of the electronics maker’s stock after purchasing an additional 6,154 shares during the quarter. Wedbush Securities Inc. owned approximately 3.26% of Qualstar worth $357,000 as of its most recent filing with the Securities and Exchange Commission. 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. The company had a trading volume of 7,600 shares, compared to its average volume of 6,804. Qualstar has a twelve month low of $4.51 and a twelve month high of $9.18. The stock has a market capitalization of $11.15 million, a PE ratio of 11.18 and a beta of 0.37. The business’s 50-day simple moving average is $5.79. The company has a quick ratio of 2.57, a current ratio of 3.63 and a debt-to-equity ratio of 0.02.

Qualstar (NASDAQ:QBAK) last released its quarterly earnings results on Tuesday, May 7th. The electronics maker reported $0.07 earnings per share for the quarter. Qualstar had a return on equity of 14.37% and a net margin of 8.53%. The company had revenue of $2.86 million during 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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