Insider Buying: Qualstar Co. (QBAK) CEO Buys 13,187 Shares of Stock

Qualstar Co. (NASDAQ:QBAK) CEO Steven N. Bronson acquired 13,187 shares of the stock in a transaction on Monday, May 13th. The shares were bought at an average price of $4.69 per share, with a total value of $61,847.03. Following the purchase, the chief executive officer now directly owns 14,617 shares of the company’s stock, valued at approximately $68,553.73. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

QBAK stock opened at $5.70 on Friday. Qualstar Co. has a 1-year low of $4.51 and a 1-year high of $10.10. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.63 and a quick ratio of 2.57. The firm has a market capitalization of $10.92 million, a PE ratio of 10.93 and a beta of 0.45.

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

A hedge fund recently raised its stake in Qualstar stock. Wedbush Securities Inc. increased its position in Qualstar Co. (NASDAQ:QBAK) by 10.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 65,155 shares of the electronics maker’s stock after acquiring an additional 6,154 shares during the period. Wedbush Securities Inc. owned approximately 3.26% of Qualstar worth $357,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 17.09% of the company’s stock.

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About Qualstar

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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