Xunlei (NASDAQ:XNET) Upgraded to Strong-Buy at StockNews.com

StockNews.com upgraded shares of Xunlei (NASDAQ:XNET) from a buy rating to a strong-buy rating in a report published on Thursday.

Xunlei Stock Up 9.3 %

XNET stock opened at $2.35 on Thursday. The company has a market capitalization of $148.97 million, a price-to-earnings ratio of 10.22 and a beta of 1.05. The company has a current ratio of 2.92, a quick ratio of 2.91 and a debt-to-equity ratio of 0.04. Xunlei has a 52 week low of $1.45 and a 52 week high of $2.41. The firm’s 50-day moving average is $2.05 and its two-hundred day moving average is $1.87.

Institutional Trading of Xunlei

Several large investors have recently added to or reduced their stakes in XNET. Public Employees Retirement System of Ohio purchased a new stake in Xunlei in the 3rd quarter worth approximately $109,000. Connor Clark & Lunn Investment Management Ltd. lifted its position 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 buying an additional 10,276 shares during the last quarter. Finally, Rhumbline Advisers lifted 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 purchasing an additional 7,220 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.