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

Xunlei (NASDAQ:XNET) was downgraded by equities researchers at StockNews.com from a “strong-buy” rating to a “buy” rating in a report released on Wednesday.

Xunlei Price Performance

NASDAQ:XNET traded up $0.05 during trading hours on Wednesday, hitting $2.07. 30,351 shares of the stock were exchanged, compared to its average volume of 94,406. The firm’s fifty day moving average price is $2.03 and its 200 day moving average price is $1.85. Xunlei has a 52-week low of $1.45 and a 52-week high of $2.41. The company has a market cap of $131.22 million, a P/E ratio of 9.00 and a beta of 1.05. The company has a current ratio of 2.92, a quick ratio of 2.91 and a debt-to-equity ratio of 0.04.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in XNET. Rhumbline Advisers grew its holdings in shares of 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 in the last quarter. Acadian Asset Management LLC lifted its stake in shares of Xunlei by 20.9% in 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 in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in Xunlei by 3.5% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 300,092 shares of the software maker’s stock worth $555,000 after acquiring an additional 10,276 shares during the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new stake in Xunlei during the 3rd quarter valued at about $109,000. 5.07% of the stock is owned by institutional investors and hedge funds.

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.