Xunlei (NASDAQ:XNET) Shares Pass Above 50-Day Moving Average of $1.50

Xunlei Limited (NASDAQ:XNET) shares crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $1.50 and traded as high as $1.62. Xunlei shares last traded at $1.56, with a volume of 60,654 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on Xunlei in a research report on Wednesday. They issued a “buy” rating for the company.

Xunlei Stock Performance

The firm has a market capitalization of $100.95 million, a price-to-earnings ratio of 6.78 and a beta of 1.23. The firm’s 50-day moving average price is $1.50 and its two-hundred day moving average price is $1.53. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.54 and a current ratio of 2.56.

Xunlei (NASDAQ:XNET) last released its quarterly earnings data on Thursday, March 14th. The software maker reported $0.06 earnings per share for the quarter. The company 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 Investors Weigh In On Xunlei

Several institutional investors and hedge funds have recently made changes to their positions in XNET. QRG Capital Management Inc. bought a new position in Xunlei during the 3rd quarter valued at about $36,000. Acadian Asset Management LLC boosted its holdings in shares of Xunlei by 30.4% in the 3rd quarter. Acadian Asset Management LLC now owns 145,739 shares of the software maker’s stock worth $233,000 after acquiring an additional 33,993 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in Xunlei by 25.5% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 261,275 shares of the software maker’s stock worth $423,000 after acquiring an additional 53,160 shares during the last quarter. Institutional investors and hedge funds own 5.07% of the company’s stock.

About Xunlei

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.