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

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

Xunlei Trading Up 3.7 %

Shares of NASDAQ XNET opened at $1.96 on Thursday. 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 business’s 50 day moving average price is $1.95 and its 200-day moving average price is $1.78. Xunlei has a fifty-two week low of $1.45 and a fifty-two week high of $2.41. The company has a market cap of $124.24 million, a price-to-earnings ratio of 8.52 and a beta of 1.07.

Institutional Investors Weigh In On Xunlei

Hedge funds and other institutional investors have recently modified their holdings of the business. Rhumbline Advisers grew its stake in Xunlei by 42.8% in the second 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 bought a new position in Xunlei in the third quarter worth approximately $109,000. Acadian Asset Management LLC grew its stake in 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 purchasing an additional 30,515 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in 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 purchasing an additional 10,276 shares in the last quarter. 5.07% of the stock is currently owned by hedge funds and other 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 Green Channel and Fast Bird products.