Xunlei (NASDAQ:XNET) Upgraded to “Strong-Buy” at StockNews.com

StockNews.com upgraded shares of Xunlei (NASDAQ:XNET) from a hold rating to a strong-buy rating in a research note released on Wednesday morning.

Xunlei Trading Up 0.5 %

XNET opened at $1.87 on Wednesday. Xunlei has a twelve month low of $1.45 and a twelve month high of $2.41. The company has a fifty day moving average of $1.94 and a 200-day moving average of $1.78. The stock has a market cap of $119.06 million, a PE ratio of 8.13 and a beta of 1.07. The company has a quick ratio of 2.91, a current ratio of 2.92 and a debt-to-equity ratio of 0.04.

Hedge Funds Weigh In On Xunlei

Institutional investors have recently added to or reduced their stakes in the business. Rhumbline Advisers grew its position in shares of Xunlei by 42.8% during the 2nd quarter. Rhumbline Advisers now owns 24,097 shares of the software maker’s stock worth $40,000 after buying an additional 7,220 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its holdings 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 worth $555,000 after purchasing an additional 10,276 shares during the period. Acadian Asset Management LLC grew its holdings in 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 during the period. Finally, Public Employees Retirement System of Ohio bought a new stake in Xunlei in the third quarter valued at $109,000. 5.07% of the stock is owned by institutional investors and hedge funds.

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.