Xunlei (NASDAQ:XNET) Stock Price Crosses Above Fifty Day Moving Average – Here’s What Happened

Shares of Xunlei Limited (NASDAQ:XNET) passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $2.10 and traded as high as $2.74. Xunlei shares last traded at $2.60, with a volume of 211,200 shares traded.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Xunlei from a “buy” rating to a “strong-buy” rating in a research report on Thursday, January 23rd.

Xunlei Stock Down 1.9 %

The business has a 50-day moving average price of $2.10 and a 200 day moving average price of $1.90. The company has a current ratio of 2.92, a quick ratio of 2.91 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $164.81 million, a P/E ratio of 11.30 and a beta of 1.05.

Hedge Funds Weigh In On Xunlei

An institutional investor recently raised its position in Xunlei stock. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Xunlei Limited (NASDAQ:XNET) by 3.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 300,092 shares of the software maker’s stock after acquiring an additional 10,276 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.47% of Xunlei worth $555,000 at the end of the most recent 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 Green Channel and Fast Bird products.