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.
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.
ILLEGAL ACTIVITY NOTICE: This piece of content was first reported by Sports Perspectives and is owned by of Sports Perspectives. If you are reading this piece of content on another website, it was illegally copied and republished in violation of US and international copyright & trademark laws. The correct version of this piece of content can be viewed at https://sportsperspectives.com/2018/11/08/qualstar-qbak-reaches-new-12-month-low-at-5-12.html.
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.
Featured Article: Buyback For Investors Defined
Receive News & Ratings for Qualstar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Qualstar and related companies with MarketBeat.com's FREE daily email newsletter.