Qualstar Corporation (NASDAQ:QBAK) Stock Closed 6.1% Above Its 50 Day Average

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The stock last traded at $7.09 a bit higher than the 50 day moving average which is $6.68 and just a bit higher than the 200 day moving average of $6.55. The 50 day moving average was up $0.41 whereas the 200 day average was up by +8.21%. Trading was light with 122 shares changing hands in the last trading session. Volume was down 99.75% under the stocks average daily volume.

Short traders are feeling a little more bearish on Qualstar Corporation of late as indicated by the increase in short interest. The stock saw a rise in short interest between September 15, 2017 and September 29, 2017 of 0.56%. Short shares grew from 148,045 to 148,867 over that timeframe. With short interest at 148,867 and short average daily volume at 33,659, the short-interest ratio is 4.0 and the percentage of shorted shares was 0.07% on September 29.

A few notable investment firms have updated their holdings. Citadel Advisors LLC augmented its ownership by buying 12,207 shares an increase of 48.7% as of 03/31/2016. Citadel Advisors LLC controls 37,271 shares valued at $16,000. The total value of its holdings decreased 15.8%.

Qualstar Corporation, launched on August 6, 1984, is a provider of data storage systems marketed under the Qualstar brand and of power solutions marketed under the N2Power brand. The Business’s segments include Power Supplies and Data Storage. Under the Power Supplies segment, the Company designs, manufactures and sells open frame switching power supplies. Under the Data Storage segment, the Company designs, manufactures and sells automated magnetic tape libraries used to store, retrieve and manage electronic data primarily in network computing environments. The Company offers switching power supplies that provide power solutions to original equipment manufacturers (OEMs) for a range of markets, including communications networking, industrial, gaming, test equipment, light emitting diode (LED)/lighting, and medical, as well as other market applications. The Business’s storage products provide data protection and archive storage systems, which are used to record, retrieve and manage electronic data, primarily in networked computing environments..

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