Qualstar (QBAK) Reaches New 12-Month Low at $5.12

Shares of Qualstar Co. (NASDAQ:QBAK) reached a new 52-week low during trading on Thursday . The company traded as low as $5.12 and last traded at $5.12, with a volume of 93753 shares traded. The stock had previously closed at $6.09.

Separately, ValuEngine downgraded shares of Qualstar from a “buy” rating to a “hold” rating in a report on Wednesday, July 11th.

The firm has a market capitalization of $12.62 million, a P/E ratio of 8.00 and a beta of 0.61.

Qualstar (NASDAQ:QBAK) last released its earnings results on Wednesday, August 8th. The electronics maker reported $0.23 EPS for the quarter. Qualstar had a net margin of 13.11% and a return on equity of 25.78%. The business had revenue of $3.23 million for the quarter.

A hedge fund recently raised its stake in Qualstar stock. Acadian Asset Management LLC increased its holdings in Qualstar Co. (NASDAQ:QBAK) by 46.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,499 shares of the electronics maker’s stock after purchasing an additional 9,071 shares during the quarter. Acadian Asset Management LLC owned 1.39% of Qualstar worth $221,000 at the end of the most recent quarter. Institutional investors own 17.33% of the company’s stock.

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About Qualstar (NASDAQ:QBAK)

Qualstar Corporation designs, develops, manufactures, and sells power supplies under the N2Power brand name; and data storage systems under the Qualstar brand in North America, Europe, the Asia Pacific, and internationally. The company offers switching power supplies that are used to convert AC line voltage to DC voltages, or DC voltages to other DC voltages for use in electronic equipment, such as telecommunications equipment, machine tools, routers, switches, wireless systems, and gaming devices.

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