StockNews.com Begins Coverage on Xunlei (NASDAQ:XNET)

Stock analysts at StockNews.com initiated coverage on shares of Xunlei (NASDAQ:XNET) in a note issued to investors on Thursday. The firm set a “buy” rating on the software maker’s stock.

Xunlei Stock Performance

Xunlei stock opened at $2.04 on Thursday. The stock’s 50 day simple moving average is $1.76 and its two-hundred day simple moving average is $1.71. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.68 and a current ratio of 2.70. The stock has a market cap of $131.33 million, a price-to-earnings ratio of 7.56 and a beta of 1.15. Xunlei has a fifty-two week low of $1.36 and a fifty-two week high of $2.41.

Xunlei (NASDAQ:XNET) last released its earnings results on Tuesday, August 13th. The software maker reported $0.04 earnings per share (EPS) for the quarter. Xunlei had a net margin of 4.52% and a return on equity of 4.47%. The firm had revenue of $79.33 million during the quarter.

Hedge Funds Weigh In On Xunlei

A hedge fund recently raised its stake in Xunlei stock. Rhumbline Advisers grew its holdings in shares of Xunlei Limited (NASDAQ:XNET) by 42.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 24,097 shares of the software maker’s stock after purchasing an additional 7,220 shares during the period. Rhumbline Advisers’ holdings in Xunlei were worth $40,000 as of its most recent SEC filing. Institutional investors and hedge funds own 5.07% of the company’s stock.

About Xunlei

Xunlei Limited, together with its subsidiaries, operates an internet platform for digital media content in the People's Republic of China. Its platform is based on cloud technology that enables users to access, store, manage, and consume digital media content. The company offers Xunlei Accelerator, which enables users to accelerate digital transmission over the internet; mobile acceleration plug-in, which provides mobile device users with benefits of download speed acceleration and download success rate improvements; and subscription services that offer users premium services through Green Channel and Fast Bird products.