Xunlei (NASDAQ:XNET) Receives New Coverage from Analysts at StockNews.com

Analysts at StockNews.com initiated coverage on shares of Xunlei (NASDAQ:XNETGet Rating) in a report issued on Wednesday. The brokerage set a “buy” rating on the software maker’s stock.

Separately, TheStreet upgraded Xunlei from a “d+” rating to a “c-” rating in a research report on Tuesday, November 15th.

Xunlei Stock Up 1.8 %

Shares of Xunlei stock opened at $1.66 on Wednesday. The company’s fifty day simple moving average is $1.36 and its two-hundred day simple moving average is $1.44. The company has a market cap of $110.38 million, a P/E ratio of 5.93 and a beta of 1.06. The company has a current ratio of 2.84, a quick ratio of 2.84 and a debt-to-equity ratio of 0.08. Xunlei has a 12-month low of $0.85 and a 12-month high of $2.76.

Institutional Trading of Xunlei

A number of institutional investors and hedge funds have recently made changes to their positions in XNET. State Street Corp boosted its holdings in Xunlei by 16.9% during the first quarter. State Street Corp now owns 67,574 shares of the software maker’s stock valued at $119,000 after purchasing an additional 9,761 shares in the last quarter. Envestnet Asset Management Inc. grew its position in shares of Xunlei by 69.9% during the 1st quarter. Envestnet Asset Management Inc. now owns 50,480 shares of the software maker’s stock worth $89,000 after purchasing an additional 20,774 shares in the last quarter. Millennium Management LLC bought a new position in shares of Xunlei during the second quarter valued at $35,000. JPMorgan Chase & Co. increased its stake in Xunlei by 858.2% in the first quarter. JPMorgan Chase & Co. now owns 25,439 shares of the software maker’s stock valued at $45,000 after purchasing an additional 22,784 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in Xunlei by 25.6% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 169,276 shares of the software maker’s stock valued at $235,000 after buying an additional 34,513 shares during the last quarter. 7.40% of the stock is currently owned by institutional investors and hedge funds.

Xunlei Company Profile

(Get Rating)

Xunlei Limited, together with its subsidiaries, operates an Internet platform for digital media content in the People's Republic of China. The company's platform is based on cloud technology that enables users to access, store, manage, and consume digital media content. It 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 cloud acceleration subscription services that offer users premium services through various products, such as Green Channel.

Further Reading

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