Xunlei (NASDAQ:XNET) Stock Rating Lowered by StockNews.com

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

Xunlei Trading Up 3.1 %

Shares of NASDAQ:XNET opened at $2.16 on Tuesday. The company has a 50-day simple moving average of $2.01 and a 200 day simple moving average of $1.82. The company has a market capitalization of $136.93 million, a P/E ratio of 9.39 and a beta of 1.06. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.91 and a current ratio of 2.92. Xunlei has a 52-week low of $1.45 and a 52-week high of $2.41.

Institutional Investors Weigh In On Xunlei

Several hedge funds have recently added to or reduced their stakes in the business. Connor Clark & Lunn Investment Management Ltd. raised 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 purchasing an additional 10,276 shares during the period. Acadian Asset Management LLC grew its stake in Xunlei by 20.9% in the 2nd quarter. Acadian Asset Management LLC now owns 176,254 shares of the software maker’s stock valued at $294,000 after buying an additional 30,515 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in Xunlei in the 3rd quarter valued at about $109,000. Finally, Rhumbline Advisers lifted its position in Xunlei by 42.8% during the second quarter. Rhumbline Advisers now owns 24,097 shares of the software maker’s stock worth $40,000 after acquiring an additional 7,220 shares during the last quarter. Institutional investors and hedge funds own 5.07% of the company’s stock.

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.