Xunlei (NASDAQ:XNET) Coverage Initiated at StockNews.com

Equities researchers at StockNews.com began coverage on shares of Xunlei (NASDAQ:XNET) in a report issued on Thursday. The brokerage set a “buy” rating on the software maker’s stock.

Xunlei Stock Up 1.9 %

XNET opened at $1.65 on Thursday. Xunlei has a 12 month low of $1.28 and a 12 month high of $2.09. The business has a 50-day moving average of $1.51 and a two-hundred day moving average of $1.52. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.56 and a quick ratio of 2.54. The stock has a market capitalization of $106.77 million, a price-to-earnings ratio of 7.17 and a beta of 1.22.

Xunlei (NASDAQ:XNET) last released its earnings results on Thursday, March 14th. The software maker reported $0.06 earnings per share (EPS) for the quarter. The firm had revenue of $77.14 million during the quarter. Xunlei had a net margin of 3.90% and a return on equity of 4.48%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of XNET. QRG Capital Management Inc. acquired a new position in shares of Xunlei during the third quarter worth about $36,000. Acadian Asset Management LLC raised its holdings in shares of Xunlei by 30.4% during the 3rd quarter. Acadian Asset Management LLC now owns 145,739 shares of the software maker’s stock valued at $233,000 after buying an additional 33,993 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in Xunlei by 25.5% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 261,275 shares of the software maker’s stock worth $423,000 after acquiring an additional 53,160 shares in the last quarter. Hedge funds and other 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 various products, such as Green Channel.