Xunlei (NASDAQ:XNET) Rating Increased 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 note released on Monday.

Xunlei Trading Up 5.4 %

NASDAQ:XNET opened at $2.16 on Monday. 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 $136.93 million, a price-to-earnings ratio of 9.39 and a beta of 1.05. The business’s 50-day moving average price is $2.03 and its two-hundred day moving average price is $1.84.

Institutional Investors Weigh In On Xunlei

Hedge funds have recently modified their holdings of the business. Rhumbline Advisers lifted 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 buying an additional 7,220 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of Xunlei during the 3rd quarter worth approximately $109,000. Acadian Asset Management LLC lifted 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 worth $294,000 after purchasing an additional 30,515 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in 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 purchasing an additional 10,276 shares in the last quarter. Institutional investors and hedge funds 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.