Xunlei (NASDAQ:XNET) Stock Rating Lowered by StockNews.com

Xunlei (NASDAQ:XNET) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Tuesday.

Xunlei Price Performance

NASDAQ XNET opened at $2.11 on Tuesday. The company has a 50-day moving average price of $1.89 and a 200-day moving average price of $1.77. Xunlei has a 52 week low of $1.42 and a 52 week high of $2.41. The company has a quick ratio of 2.68, a current ratio of 2.70 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $134.34 million, a P/E ratio of 9.17 and a beta of 1.07.

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

Institutional Trading of Xunlei

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Acadian Asset Management LLC boosted its holdings in Xunlei by 20.9% in the 2nd quarter. Acadian Asset Management LLC now owns 176,254 shares of the software maker’s stock worth $294,000 after buying an additional 30,515 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Xunlei by 3.5% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 300,092 shares of the software maker’s stock worth $555,000 after purchasing an additional 10,276 shares during the period. Finally, Rhumbline Advisers grew its holdings in Xunlei by 42.8% during the 2nd quarter. Rhumbline Advisers now owns 24,097 shares of the software maker’s stock valued at $40,000 after purchasing an additional 7,220 shares during the last quarter. Hedge funds and other institutional investors 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.