StockNews.com Upgrades Xunlei (NASDAQ:XNET) to “Strong-Buy”

Xunlei (NASDAQ:XNET) was upgraded by analysts at StockNews.com from a “hold” rating to a “strong-buy” rating in a report issued on Wednesday.

Xunlei Trading Down 2.1 %

Shares of Xunlei stock opened at $1.86 on Wednesday. The company has a quick ratio of 2.91, a current ratio of 2.92 and a debt-to-equity ratio of 0.04. The firm has a market cap of $118.43 million, a price-to-earnings ratio of 8.09 and a beta of 1.07. Xunlei has a 52-week low of $1.45 and a 52-week high of $2.41. The company’s 50-day simple moving average is $1.92 and its 200-day simple moving average is $1.78.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of XNET. Rhumbline Advisers grew its holdings in shares of Xunlei by 42.8% in the 2nd quarter. Rhumbline Advisers now owns 24,097 shares of the software maker’s stock worth $40,000 after acquiring an additional 7,220 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in Xunlei in the third quarter valued at $109,000. Acadian Asset Management LLC increased its position in shares of Xunlei by 20.9% in the second quarter. Acadian Asset Management LLC now owns 176,254 shares of the software maker’s stock valued at $294,000 after buying an additional 30,515 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Xunlei by 3.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 300,092 shares of the software maker’s stock valued at $555,000 after buying an additional 10,276 shares in the last quarter. Hedge funds and other institutional investors own 5.07% of the company’s stock.

Xunlei Company Profile

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.