Xunlei (NASDAQ:XNET) Rating Increased to Strong-Buy at StockNews.com

StockNews.com upgraded shares of Xunlei (NASDAQ:XNET) from a hold rating to a strong-buy rating in a research note released on Wednesday morning.

Xunlei Price Performance

XNET stock opened at $1.90 on Wednesday. The company has a fifty day moving average price of $1.92 and a 200-day moving average price of $1.78. The company has a market capitalization of $120.97 million, a P/E ratio of 8.26 and a beta of 1.07. Xunlei has a 52-week low of $1.45 and a 52-week high of $2.41. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.91 and a current ratio of 2.92.

Hedge Funds Weigh In On Xunlei

Hedge funds have recently bought and sold shares of the company. Rhumbline Advisers raised its stake in Xunlei by 42.8% during the second quarter. Rhumbline Advisers now owns 24,097 shares of the software maker’s stock worth $40,000 after buying an additional 7,220 shares during the last quarter. Acadian Asset Management LLC raised its stake in Xunlei by 20.9% during the second quarter. Acadian Asset Management LLC now owns 176,254 shares of the software maker’s stock worth $294,000 after buying an additional 30,515 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in Xunlei in the third quarter worth $109,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in Xunlei by 3.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 300,092 shares of the software maker’s stock worth $555,000 after purchasing an additional 10,276 shares during the period. Institutional investors 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.