Xunlei (NASDAQ:XNET) Sees Unusually-High Trading Volume

Shares of Xunlei Ltd (NASDAQ:XNET) saw strong trading volume on Wednesday . 4,040,329 shares changed hands during mid-day trading, an increase of 478% from the previous session’s volume of 699,453 shares.The stock last traded at $2.65 and had previously closed at $2.06.

Separately, ValuEngine upgraded shares of Xunlei from a “hold” rating to a “buy” rating in a report on Thursday, August 1st.

The company has a quick ratio of 3.20, a current ratio of 3.34 and a debt-to-equity ratio of 0.04. The company has a 50 day moving average of $2.37.

Xunlei (NASDAQ:XNET) last posted its quarterly earnings results on Monday, May 13th. The software maker reported ($0.13) earnings per share (EPS) for the quarter. The company had revenue of $41.04 million during the quarter. Xunlei had a negative net margin of 28.88% and a negative return on equity of 15.42%.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP lifted its position in shares of Xunlei by 6.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 111,322 shares of the software maker’s stock valued at $381,000 after acquiring an additional 7,208 shares during the last quarter. Geode Capital Management LLC grew its holdings in Xunlei by 42.7% in the fourth quarter. Geode Capital Management LLC now owns 27,553 shares of the software maker’s stock worth $93,000 after purchasing an additional 8,244 shares during the period. D. E. Shaw & Co. Inc. acquired a new stake in Xunlei in the fourth quarter worth $98,000. Jane Street Group LLC grew its holdings in Xunlei by 171.9% in the fourth quarter. Jane Street Group LLC now owns 33,207 shares of the software maker’s stock worth $113,000 after purchasing an additional 20,992 shares during the period. Finally, Deutsche Bank AG grew its holdings in Xunlei by 22,667.3% in the fourth quarter. Deutsche Bank AG now owns 248,391 shares of the software maker’s stock worth $844,000 after purchasing an additional 247,300 shares during the period. 11.28% of the stock is owned by hedge funds and other institutional investors.

Xunlei Company Profile (NASDAQ:XNET)

Xunlei Limited, a cloud-based acceleration technology company, operates an Internet platform for digital media content in the People's Republic of China. The company's platform is based on cloud computing that enables users to access, manage, and consume digital media content. It offers Xunlei Accelerator, which enables users to accelerate digital transmission over the Internet; and cloud acceleration subscription services that offer users premium services through various products, such as Green Channel and Offline Accelerator.

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