Xunlei (NASDAQ:XNET) Cut to “Hold” at StockNews.com

StockNews.com cut shares of Xunlei (NASDAQ:XNET) from a buy rating to a hold rating in a research note published on Tuesday.

Xunlei Stock Down 7.1 %

Shares of NASDAQ:XNET opened at $1.96 on Tuesday. The firm has a market capitalization of $124.79 million, a P/E ratio of 8.52 and a beta of 1.07. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.68 and a current ratio of 2.70. The stock has a 50 day moving average price of $1.89 and a 200-day moving average price of $1.77. Xunlei has a 52-week low of $1.42 and a 52-week high of $2.41.

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Rhumbline Advisers increased its stake in shares of Xunlei by 42.8% during the second quarter. Rhumbline Advisers now owns 24,097 shares of the software maker’s stock valued at $40,000 after purchasing an additional 7,220 shares in the last quarter. Acadian Asset Management LLC boosted its position in shares of Xunlei by 20.9% in the 2nd quarter. Acadian Asset Management LLC now owns 176,254 shares of the software maker’s stock worth $294,000 after purchasing an additional 30,515 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Xunlei by 3.5% in 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 during the last quarter. 5.07% of the stock is owned by hedge funds and other institutional investors.

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.