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 report issued on Friday morning.

Xunlei Price Performance

NASDAQ XNET opened at $4.50 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.91 and a current ratio of 2.92. The business’s fifty day moving average is $2.75 and its 200 day moving average is $2.20. The company has a market capitalization of $285.26 million, a PE ratio of 19.57 and a beta of 1.04. Xunlei has a fifty-two week low of $1.45 and a fifty-two week high of $4.80.

Hedge Funds Weigh In On Xunlei

A number of hedge funds and other institutional investors have recently modified their holdings of XNET. Two Sigma Securities LLC purchased a new stake in Xunlei in the 4th quarter worth $36,000. Russell Investments Group Ltd. purchased a new stake in Xunlei during the fourth quarter valued at approximately $52,000. Sei Investments Co. bought a new position in shares of Xunlei during the 4th quarter valued at approximately $53,000. Marshall Wace LLP bought a new position in Xunlei during the fourth quarter valued at $84,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in Xunlei in the 3rd quarter worth about $109,000. 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.