Short Interest in Xunlei Limited (NASDAQ:XNET) Drops By 26.6%

Xunlei Limited (NASDAQ:XNET) was the target of a large drop in short interest in the month of March. As of March 15th, there was short interest totalling 1,050,000 shares, a drop of 26.6% from the February 28th total of 1,430,000 shares. Based on an average trading volume of 1,270,000 shares, the days-to-cover ratio is presently 0.8 days. Currently, 1.7% of the company’s stock are sold short.

Institutional Trading of Xunlei

Hedge funds and other institutional investors have recently made changes to their positions in the business. Two Sigma Securities LLC acquired a new position in Xunlei during the 4th quarter valued at about $36,000. Russell Investments Group Ltd. purchased a new stake in shares of Xunlei during the fourth quarter worth about $52,000. Sei Investments Co. acquired a new position in shares of Xunlei during the fourth quarter valued at about $53,000. Marshall Wace LLP purchased a new position in shares of Xunlei in the 4th quarter valued at approximately $84,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in Xunlei in the 3rd quarter worth approximately $109,000. Hedge funds and other institutional investors own 5.07% of the company’s stock.

Xunlei Stock Performance

XNET stock opened at $4.45 on Monday. Xunlei has a one year low of $1.46 and a one year high of $5.52. The firm has a market cap of $273.54 million, a price-to-earnings ratio of 19.35 and a beta of 1.04. 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 firm has a 50-day simple moving average of $3.57 and a two-hundred day simple moving average of $2.54.

Xunlei (NASDAQ:XNET) last posted its quarterly earnings data on Thursday, March 13th. The software maker reported $0.17 EPS for the quarter. The firm had revenue of $84.30 million during the quarter. Xunlei had a net margin of 4.65% and a return on equity of 4.47%.

Wall Street Analyst Weigh In

Separately, StockNews.com cut Xunlei from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 7th.

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.