Xunlei (NASDAQ:XNET) Stock Rating Upgraded by StockNews.com

Xunlei (NASDAQ:XNET) was upgraded by analysts at StockNews.com from a “hold” rating to a “strong-buy” rating in a research report issued on Wednesday.

Xunlei Stock Up 6.0 %

NASDAQ:XNET opened at $1.95 on Wednesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.91 and a current ratio of 2.92. The stock has a market capitalization of $124.16 million, a P/E ratio of 8.48 and a beta of 1.07. The company’s 50-day simple moving average is $1.92 and its 200-day simple moving average is $1.78. Xunlei has a fifty-two week low of $1.45 and a fifty-two week high of $2.41.

Hedge Funds Weigh In On Xunlei

Large investors have recently made changes to their positions in the business. Rhumbline Advisers boosted its position in shares of 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 purchasing an additional 7,220 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in Xunlei in the third quarter worth about $109,000. Acadian Asset Management LLC grew its stake in shares of 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 acquiring an additional 30,515 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of 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. 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.