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 note released on Thursday morning.

Xunlei Price Performance

Shares of Xunlei stock opened at $2.15 on Thursday. The business’s 50-day moving average price is $2.03 and its 200-day moving average price is $1.87. The firm has a market capitalization of $136.29 million, a PE ratio of 9.35 and a beta of 1.05. Xunlei has a 12 month low of $1.45 and a 12 month high of $2.41. The company has a current ratio of 2.92, a quick ratio of 2.91 and a debt-to-equity ratio of 0.04.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Rhumbline Advisers raised its position 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 period. Public Employees Retirement System of Ohio bought a new position in shares of Xunlei during the third quarter valued at about $109,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings 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 period. 5.07% of the stock is owned by hedge funds and other institutional investors.

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 Green Channel and Fast Bird products.