Xunlei (NASDAQ:XNET) Stock Passes Above 50 Day Moving Average – Here’s What Happened

Xunlei Limited (NASDAQ:XNET)’s share price passed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $2.02 and traded as high as $2.10. Xunlei shares last traded at $2.05, with a volume of 97,526 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded Xunlei from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, December 17th.

Xunlei Stock Down 2.4 %

The company has a 50-day simple moving average of $2.02 and a 200 day simple moving average of $1.83. The company has a market cap of $129.95 million, a P/E ratio of 8.91 and a beta of 1.06. The company has a current ratio of 2.92, a quick ratio of 2.91 and a debt-to-equity ratio of 0.04.

Hedge Funds Weigh In On Xunlei

Several hedge funds have recently bought and sold shares of the business. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Xunlei by 3.5% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 300,092 shares of the software maker’s stock worth $555,000 after buying an additional 10,276 shares in the last quarter. Acadian Asset Management LLC grew its position in shares of Xunlei by 20.9% during the 2nd quarter. Acadian Asset Management LLC now owns 176,254 shares of the software maker’s stock worth $294,000 after buying an additional 30,515 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of Xunlei during the 3rd quarter worth $109,000. Finally, Rhumbline Advisers grew its position in shares of Xunlei by 42.8% during 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 in the last quarter. 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.