Xunlei (NASDAQ:XNET) Downgraded by StockNews.com to Buy

Xunlei (NASDAQ:XNET) was downgraded by equities research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report issued on Thursday.

Xunlei Stock Up 3.7 %

Shares of NASDAQ XNET opened at $1.96 on Thursday. 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 $124.24 million, a PE ratio of 8.52 and a beta of 1.07. The stock’s fifty day simple moving average is $1.95 and its two-hundred day simple moving average is $1.78. Xunlei has a 12-month low of $1.45 and a 12-month high of $2.41.

Institutional Trading of Xunlei

Several hedge funds and other institutional investors have recently bought and sold shares of XNET. Public Employees Retirement System of Ohio bought a new stake in Xunlei during the 3rd quarter valued at $109,000. Acadian Asset Management LLC lifted its holdings 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 valued at $294,000 after purchasing an additional 30,515 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings 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 valued at $555,000 after purchasing an additional 10,276 shares during the last quarter. Finally, Rhumbline Advisers lifted its holdings in shares of Xunlei by 42.8% during the 2nd 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 during the last quarter. Institutional investors own 5.07% of the company’s stock.

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.