Xunlei (NASDAQ:XNET) Rating Lowered to Buy at StockNews.com

Xunlei (NASDAQ:XNET) was downgraded by StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued on Thursday.

Xunlei Trading Up 1.3 %

NASDAQ:XNET opened at $1.98 on Thursday. The company has a current ratio of 2.92, a quick ratio of 2.91 and a debt-to-equity ratio of 0.04. Xunlei has a 1-year low of $1.45 and a 1-year high of $2.41. The firm has a market capitalization of $125.20 million, a price-to-earnings ratio of 8.59 and a beta of 1.07. The business’s 50-day moving average price is $1.97 and its two-hundred day moving average price is $1.79.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in XNET. Rhumbline Advisers boosted its stake in 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 purchasing an additional 7,220 shares during the period. Public Employees Retirement System of Ohio bought a new stake in shares of Xunlei in the third quarter valued at about $109,000. Acadian Asset Management LLC grew its holdings in shares of Xunlei by 20.9% during the second 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 in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in 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 valued at $555,000 after buying an additional 10,276 shares during the last quarter. 5.07% of the stock is currently owned by institutional investors.

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.