Short Interest in Xunlei Limited (NASDAQ:XNET) Drops By 26.6%

Xunlei Limited (NASDAQ:XNET) was the target of a significant drop in short interest during the month of March. As of March 15th, there was short interest totalling 1,050,000 shares, a drop of 26.6% from the February 28th total of 1,430,000 shares. Currently, 1.7% of the company’s shares are sold short. Based on an average daily volume of 1,270,000 shares, the short-interest ratio is presently 0.8 days.

Xunlei Stock Performance

XNET stock opened at $4.45 on Monday. Xunlei has a twelve month low of $1.46 and a twelve month high of $5.52. The firm has a market cap of $273.54 million, a price-to-earnings ratio of 19.35 and a beta of 1.04. The business’s fifty day simple moving average is $3.57 and its two-hundred day simple moving average is $2.54. 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 (NASDAQ:XNET) last posted its quarterly earnings results on Thursday, March 13th. The software maker reported $0.17 EPS for the quarter. The company had revenue of $84.30 million for the quarter. Xunlei had a net margin of 4.65% and a return on equity of 4.47%.

Institutional Trading of Xunlei

Large investors have recently modified their holdings of the company. Public Employees Retirement System of Ohio purchased a new position in Xunlei during the 3rd quarter worth $109,000. Connor Clark & Lunn Investment Management Ltd. increased its stake 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 valued at $555,000 after buying an additional 10,276 shares during the period. Marshall Wace LLP bought a new stake in shares of Xunlei in the fourth quarter valued at about $84,000. Two Sigma Securities LLC purchased a new stake in Xunlei in the fourth quarter worth about $36,000. Finally, Russell Investments Group Ltd. bought a new position in Xunlei during the 4th quarter worth about $52,000. Hedge funds and other institutional investors own 5.07% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut Xunlei from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 7th.

About Xunlei

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.