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 research note published on Friday morning.

Xunlei Price Performance

Shares of XNET opened at $4.50 on Friday. The stock has a market cap of $285.26 million, a P/E ratio of 19.57 and a beta of 1.04. The business’s fifty day moving average is $2.75 and its 200 day moving average is $2.20. The company has a quick ratio of 2.91, a current ratio of 2.92 and a debt-to-equity ratio of 0.04. Xunlei has a 12-month low of $1.45 and a 12-month high of $4.80.

Hedge Funds Weigh In On Xunlei

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Xunlei by 3.5% during 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 last quarter. Two Sigma Securities LLC purchased a new position in Xunlei during the fourth quarter worth about $36,000. Russell Investments Group Ltd. purchased a new position in Xunlei during the fourth quarter worth about $52,000. Sei Investments Co. purchased a new stake in Xunlei in the fourth quarter valued at approximately $53,000. Finally, Marshall Wace LLP bought a new stake in shares of Xunlei during the 4th quarter worth $84,000. 5.07% of the stock is owned by hedge funds and other institutional investors.

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.