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

StockNews.com lowered shares of Xunlei (NASDAQ:XNET) from a buy rating to a hold rating in a report issued on Tuesday.

Xunlei Stock Performance

Shares of XNET stock opened at $1.84 on Tuesday. The company has a current ratio of 2.70, a quick ratio of 2.68 and a debt-to-equity ratio of 0.04. The company’s fifty day moving average price is $1.90 and its 200-day moving average price is $1.77. The stock has a market cap of $117.15 million, a PE ratio of 8.00 and a beta of 1.07. Xunlei has a 12 month low of $1.42 and a 12 month high of $2.41.

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

Hedge Funds Weigh In On Xunlei

A number of hedge funds have recently added to or reduced their stakes in XNET. Rhumbline Advisers increased its holdings in Xunlei by 42.8% in the 2nd 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 boosted its stake 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 buying an additional 30,515 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of 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 acquiring an additional 10,276 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new stake in Xunlei during the third quarter valued at $109,000. 5.07% of the stock is currently owned by hedge funds and other institutional investors.

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.