Xunlei (NASDAQ:XNET) Raised to “Strong-Buy” at StockNews.com

Xunlei (NASDAQ:XNET) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “strong-buy” rating in a research report issued on Wednesday.

Xunlei Stock Performance

Shares of XNET stock opened at $1.95 on Wednesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.92 and a quick ratio of 2.91. The business has a fifty day moving average of $1.92 and a 200 day moving average of $1.78. The firm has a market capitalization of $124.16 million, a price-to-earnings ratio of 8.48 and a beta of 1.07. Xunlei has a 1 year low of $1.45 and a 1 year high of $2.41.

Institutional Investors Weigh In On Xunlei

Institutional investors and hedge funds have recently modified their holdings of the company. Rhumbline Advisers increased its holdings in Xunlei by 42.8% in the 2nd quarter. Rhumbline Advisers now owns 24,097 shares of the software maker’s stock worth $40,000 after buying an additional 7,220 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in shares of Xunlei in the third quarter worth $109,000. Acadian Asset Management LLC increased its stake in shares of Xunlei by 20.9% in the second quarter. Acadian Asset Management LLC now owns 176,254 shares of the software maker’s stock worth $294,000 after acquiring an additional 30,515 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of 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 worth $555,000 after purchasing an additional 10,276 shares during the last quarter. Institutional investors and hedge funds 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.