StockNews.com Initiates Coverage on Xunlei (NASDAQ:XNET)

Equities research analysts at StockNews.com assumed coverage on shares of Xunlei (NASDAQ:XNET) in a research report issued to clients and investors on Wednesday. The brokerage set a “buy” rating on the software maker’s stock.

Xunlei Stock Performance

Xunlei stock opened at $1.90 on Wednesday. The firm’s 50 day simple moving average is $1.73 and its 200 day simple moving average is $1.69. The company has a current ratio of 2.70, a quick ratio of 2.68 and a debt-to-equity ratio of 0.04. Xunlei has a 1-year low of $1.36 and a 1-year high of $2.41. The firm has a market capitalization of $122.31 million, a PE ratio of 7.04 and a beta of 1.15.

Xunlei (NASDAQ:XNET) last posted its earnings results on Tuesday, August 13th. The software maker reported $0.04 EPS for the quarter. The business had revenue of $79.33 million during the quarter. Xunlei had a return on equity of 4.47% and a net margin of 4.52%.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Xunlei stock. Acadian Asset Management LLC increased its holdings in Xunlei Limited (NASDAQ:XNET) by 20.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 176,254 shares of the software maker’s stock after purchasing an additional 30,515 shares during the quarter. Acadian Asset Management LLC owned approximately 0.27% of Xunlei worth $294,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 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.