Xunlei (NASDAQ:XNET) Cut to Buy at StockNews.com

StockNews.com cut shares of Xunlei (NASDAQ:XNET) from a strong-buy rating to a buy rating in a research report released on Tuesday.

Xunlei Stock Down 1.5 %

Xunlei stock opened at $1.99 on Tuesday. Xunlei has a fifty-two week low of $1.45 and a fifty-two week high of $2.41. The firm has a market capitalization of $126.15 million, a price-to-earnings ratio of 8.65 and a beta of 1.06. The stock’s fifty day moving average is $2.01 and its two-hundred day moving average is $1.82. 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

Several large investors have recently modified their holdings of the business. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of 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 acquiring an additional 10,276 shares in the last quarter. Rhumbline Advisers lifted its holdings in Xunlei by 42.8% in the 2nd 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. Acadian Asset Management LLC boosted its stake in shares of Xunlei by 20.9% during the 2nd 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 last quarter. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of Xunlei during the third quarter worth about $109,000. 5.07% of the stock is currently owned by institutional investors and hedge funds.

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.