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

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

Xunlei Stock Up 2.4 %

XNET stock opened at $2.15 on Thursday. Xunlei has a fifty-two week low of $1.45 and a fifty-two week high of $2.41. The stock has a fifty day moving average of $2.03 and a 200-day moving average of $1.87. The company has a market capitalization of $136.29 million, a price-to-earnings ratio of 9.35 and a beta of 1.05. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.91 and a current ratio of 2.92.

Institutional Trading of Xunlei

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of 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 worth $555,000 after buying an additional 10,276 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in Xunlei in the third quarter worth about $109,000. Finally, Rhumbline Advisers increased its stake in shares of Xunlei by 42.8% during 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. 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.