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

StockNews.com upgraded shares of Xunlei (NASDAQ:XNET) from a buy rating to a strong-buy rating in a research report sent to investors on Monday morning.

Xunlei Stock Performance

NASDAQ:XNET opened at $2.19 on Monday. The firm has a market capitalization of $138.82 million, a PE ratio of 9.52 and a beta of 1.06. 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 50-day moving average price of $2.02 and a 200 day moving average price of $1.80. Xunlei has a 12-month low of $1.45 and a 12-month high of $2.41.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in XNET. 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 worth $40,000 after acquiring an additional 7,220 shares during the period. Public Employees Retirement System of Ohio bought a new position in shares of Xunlei in the 3rd quarter valued at about $109,000. Acadian Asset Management LLC increased its position in shares of Xunlei by 20.9% during the 2nd quarter. Acadian Asset Management LLC now owns 176,254 shares of the software maker’s stock worth $294,000 after purchasing an additional 30,515 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Xunlei by 3.5% during 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 in the last quarter. 5.07% of the stock is owned by institutional investors.

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.