The stock of Qualstar Corporation (NASDAQ:QBAK) is a huge mover today! About 267,071 shares traded hands or 1971.60% up from the average. Qualstar Corporation (NASDAQ:QBAK) has declined 0.67% since April 20, 2016 and is downtrending. It has underperformed by 5.22% the S&P500.
The move comes after 6 months positive chart setup for the $6.76M company. It was reported on Nov, 22 by Barchart.com. We have $3.48 PT which if reached, will make NASDAQ:QBAK worth $540,800 more.
According to Zacks Investment Research, “Qualstar Corp. designs and manufactures the world’s finest tape products. The company pioneered adapting 9-track tape technology from mainframes to desktop computing environments and have applied this experience to tape library systems for cartridge tape formats. The company’s tape products are compatible with virtually every operating system and platform, and are supported by applications packages from many leading developers, such as Tivoli Systems and Computer Associates.”
More notable recent Qualstar Corporation (NASDAQ:QBAK) news were published by: Businesswire.com which released: “Qualstar Corporation to Initiate Stock Repurchase Program” on November 22, 2016, also Businesswire.com with their article: “Qualstar Corporation Announces Reverse Stock Split and Results of 2016 Annual …” published on June 15, 2016, Businesswire.com published: “Qualstar Corporation Announces the Promotion of Daniel K. Jan to President” on May 19, 2015. More interesting news about Qualstar Corporation (NASDAQ:QBAK) were released by: Businesswire.com and their article: “Qualstar Announces the Q1â„¢, an LTFS Single Drive Archive Appliance” published on June 24, 2015 as well as Businesswire.com‘s news article titled: “Qualstar Announces the Q80â„¢, an Expandable Rackmount LTO Tape Library System” with publication date: January 20, 2016.
QBAK Company Profile
Qualstar Corporation, incorporated on August 6, 1984, is a well-known provider of data storage systems marketed under the Qualstar brand and of power solutions marketed under the N2Power brand. The Company’s divisions include Power Supplies and Data Storage. Under the Power Supplies segment, the Company designs, makes and sells open frame switching power supplies. Under the Data Storage segment, the Company designs, makes and sells automated magnetic tape libraries used to store, retrieve and manage electronic data primarily in network computing environments. The Firm 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 Company’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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