Xunlei (NASDAQ:XNET) Downgraded to Buy Rating by StockNews.com

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

Xunlei Trading Up 3.1 %

NASDAQ:XNET opened at $2.16 on Tuesday. The company has a market cap of $136.93 million, a P/E ratio of 9.39 and a beta of 1.06. Xunlei has a twelve month low of $1.45 and a twelve month high of $2.41. The business has a 50 day moving average price of $2.01 and a two-hundred day moving average price of $1.82. The company has a quick ratio of 2.91, a current ratio of 2.92 and a debt-to-equity ratio of 0.04.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in XNET. Public Employees Retirement System of Ohio bought a new stake in Xunlei during the 3rd quarter worth about $109,000. Connor Clark & Lunn Investment Management Ltd. boosted its position in Xunlei by 3.5% during 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 purchasing an additional 10,276 shares during the last quarter. Acadian Asset Management LLC boosted its position in Xunlei by 20.9% during the second quarter. Acadian Asset Management LLC now owns 176,254 shares of the software maker’s stock valued at $294,000 after purchasing an additional 30,515 shares during the last quarter. Finally, Rhumbline Advisers grew its stake in Xunlei by 42.8% in the second 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 in the last quarter. 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.