StockNews.com Initiates Coverage on Xunlei (NASDAQ:XNET)

StockNews.com initiated coverage on shares of Xunlei (NASDAQ:XNET) in a research report released on Tuesday morning. The brokerage issued a buy rating on the software maker’s stock.

Xunlei Stock Up 0.7 %

Shares of NASDAQ XNET opened at $1.48 on Tuesday. Xunlei has a 52-week low of $1.28 and a 52-week high of $2.09. The firm has a fifty day moving average of $1.50 and a 200-day moving average of $1.53. The stock has a market capitalization of $95.76 million, a PE ratio of 6.43 and a beta of 1.23. The company has a quick ratio of 2.54, a current ratio of 2.56 and a debt-to-equity ratio of 0.05.

Xunlei (NASDAQ:XNET) last announced its quarterly earnings data on Thursday, March 14th. The software maker reported $0.06 earnings per share (EPS) for the quarter. Xunlei had a net margin of 3.90% and a return on equity of 4.48%. The company had revenue of $77.14 million during the quarter.

Institutional Trading of Xunlei

Several large investors have recently added to or reduced their stakes in the stock. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Xunlei by 25.5% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 261,275 shares of the software maker’s stock valued at $423,000 after purchasing an additional 53,160 shares in the last quarter. Acadian Asset Management LLC boosted its position in Xunlei by 30.4% in the 3rd quarter. Acadian Asset Management LLC now owns 145,739 shares of the software maker’s stock valued at $233,000 after buying an additional 33,993 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in Xunlei by 105.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 122,338 shares of the software maker’s stock valued at $96,000 after buying an additional 62,834 shares during the last quarter. State Street Corp boosted its position in Xunlei by 9.9% in the 1st quarter. State Street Corp now owns 87,201 shares of the software maker’s stock valued at $160,000 after buying an additional 7,869 shares during the last quarter. Finally, Jane Street Group LLC purchased a new position in Xunlei in the 3rd quarter valued at about $73,000. 5.07% of the stock is currently 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 various products, such as Green Channel.