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

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

Xunlei Stock Performance

Shares of NASDAQ:XNET opened at $1.56 on Wednesday. The company has a market cap of $100.95 million, a P/E ratio of 6.78 and a beta of 1.23. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.56 and a quick ratio of 2.54. Xunlei has a 1 year low of $1.28 and a 1 year high of $2.09. The stock’s fifty day moving average price is $1.50 and its 200-day moving average price is $1.52.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Xunlei by 25.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 261,275 shares of the software maker’s stock valued at $423,000 after acquiring an additional 53,160 shares during the period. QRG Capital Management Inc. bought a new position in Xunlei in the third quarter valued at about $36,000. Finally, Acadian Asset Management LLC lifted its holdings in Xunlei by 30.4% in the third quarter. Acadian Asset Management LLC now owns 145,739 shares of the software maker’s stock valued at $233,000 after acquiring an additional 33,993 shares during the period. 5.07% of the stock is owned by institutional investors.

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.