Xunlei (NASDAQ:XNET) Coverage Initiated at StockNews.com

Stock analysts at StockNews.com began coverage on shares of Xunlei (NASDAQ:XNET) in a report issued on Friday. The firm set a “buy” rating on the software maker’s stock.

Xunlei Stock Performance

Shares of NASDAQ XNET opened at $1.52 on Friday. The stock has a 50 day moving average price of $1.50 and a 200 day moving average price of $1.56. Xunlei has a 52 week low of $1.28 and a 52 week high of $2.09. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.45 and a current ratio of 2.46. The stock has a market capitalization of $98.96 million, a PE ratio of 7.97 and a beta of 1.23.

Xunlei (NASDAQ:XNET) last issued its quarterly earnings results on Thursday, March 14th. The software maker reported $0.06 EPS for the quarter. Xunlei had a return on equity of 3.87% and a net margin of 3.16%. The firm had revenue of $77.14 million during the quarter.

Institutional Trading of Xunlei

A number of hedge funds have recently made changes to their positions in XNET. Envestnet Asset Management Inc. lifted its position in shares of Xunlei by 69.9% in the first quarter. Envestnet Asset Management Inc. now owns 50,480 shares of the software maker’s stock valued at $89,000 after buying an additional 20,774 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Xunlei by 858.2% in the first quarter. JPMorgan Chase & Co. now owns 25,439 shares of the software maker’s stock valued at $45,000 after buying an additional 22,784 shares during the last quarter. State Street Corp lifted its position in shares of Xunlei by 16.9% in the first quarter. State Street Corp now owns 67,574 shares of the software maker’s stock valued at $119,000 after buying an additional 9,761 shares during the last quarter. Millennium Management LLC acquired a new stake in shares of Xunlei in the second quarter valued at approximately $35,000. Finally, UBS Group AG lifted its position in shares of Xunlei by 2,164.5% in the third quarter. UBS Group AG now owns 52,173 shares of the software maker’s stock valued at $73,000 after buying an additional 49,869 shares during the last quarter. 5.15% of the stock is owned by institutional investors and hedge funds.

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 various products, such as Green Channel.