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

Xunlei (NASDAQ:XNET) was upgraded by research analysts at StockNews.com from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Wednesday.

Xunlei Trading Down 2.1 %

XNET opened at $1.86 on Wednesday. The firm’s 50 day moving average is $1.92 and its 200-day moving average is $1.78. Xunlei has a 52-week low of $1.45 and a 52-week high of $2.41. The company has a quick ratio of 2.91, a current ratio of 2.92 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $118.43 million, a P/E ratio of 8.09 and a beta of 1.07.

Institutional Trading of Xunlei

Institutional investors have recently added to or reduced their stakes in the business. Rhumbline Advisers boosted its holdings in shares of 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 buying an additional 7,220 shares during the period. Acadian Asset Management LLC lifted 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 acquiring an additional 30,515 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in Xunlei in the third quarter valued at approximately $109,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted 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 acquiring an additional 10,276 shares during the period. 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.