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 research report sent to investors on Monday.

Xunlei Price Performance

XNET stock opened at $2.10 on Monday. The company has a current ratio of 2.92, a quick ratio of 2.91 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $133.12 million, a PE ratio of 9.13 and a beta of 1.05. Xunlei has a one year low of $1.45 and a one year high of $2.41. The firm has a 50-day moving average of $2.03 and a two-hundred day moving average of $1.84.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers lifted its holdings in shares of Xunlei by 42.8% during the 2nd quarter. Rhumbline Advisers now owns 24,097 shares of the software maker’s stock valued at $40,000 after buying an additional 7,220 shares during the last quarter. Acadian Asset Management LLC grew its holdings in Xunlei by 20.9% during the second quarter. Acadian Asset Management LLC now owns 176,254 shares of the software maker’s stock valued at $294,000 after purchasing an additional 30,515 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in 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 valued at $555,000 after purchasing an additional 10,276 shares during the last quarter. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of Xunlei during the 3rd quarter worth $109,000. Institutional investors and hedge funds own 5.07% of the company’s stock.

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.