StockNews.com Downgrades Xunlei (NASDAQ:XNET) to Buy

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

Xunlei Stock Up 12.5 %

Shares of Xunlei stock opened at $4.50 on Friday. The company’s fifty day simple moving average is $2.75 and its two-hundred day simple moving average is $2.20. Xunlei has a 12-month low of $1.45 and a 12-month high of $4.80. The company has a current ratio of 2.92, a quick ratio of 2.91 and a debt-to-equity ratio of 0.04. The company has a market cap of $285.26 million, a P/E ratio of 19.57 and a beta of 1.04.

Hedge Funds Weigh In On Xunlei

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Connor Clark & Lunn Investment Management Ltd. grew its stake 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 during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in Xunlei in the third quarter worth about $109,000. Marshall Wace LLP purchased a new stake in shares of Xunlei during the fourth quarter worth about $84,000. Sei Investments Co. purchased a new stake in shares of Xunlei during the fourth quarter worth about $53,000. Finally, Russell Investments Group Ltd. purchased a new stake in shares of Xunlei during the fourth quarter worth about $52,000. 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.