Xunlei Limited (NASDAQ:XNET) Short Interest Down 51.2% in May

Xunlei Limited (NASDAQ:XNET – Get Rating) was the target of a significant drop in short interest in the month of May. As of May 15th, there was short interest totalling 15,700 shares, a drop of 51.2% from the April 30th total of 32,200 shares. Approximately 0.0% of the shares of the stock are sold short. Based on an average trading volume of 64,000 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Investors Weigh In On Xunlei

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Virtu Financial LLC acquired a new position in shares of Xunlei during the 4th quarter worth approximately $27,000. Millennium Management LLC acquired a new stake in shares of Xunlei in the 2nd quarter valued at about $35,000. JPMorgan Chase & Co. raised its stake in Xunlei by 858.2% during the first quarter. JPMorgan Chase & Co. now owns 25,439 shares of the software maker’s stock worth $45,000 after acquiring an additional 22,784 shares during the period. Harvest Portfolios Group Inc. acquired a new stake in shares of Xunlei in the first quarter valued at approximately $57,000. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of Xunlei by 69.9% in the first quarter. Envestnet Asset Management Inc. now owns 50,480 shares of the software maker’s stock valued at $89,000 after acquiring an additional 20,774 shares in the last quarter. 6.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on Xunlei in a report on Thursday, May 18th. They issued a “buy” rating on the stock.

Xunlei Stock Performance

Shares of XNET stock opened at $1.32 on Friday. The business’s fifty day simple moving average is $1.67 and its 200-day simple moving average is $1.82. The company has a market cap of $89.03 million, a PE ratio of 5.28 and a beta of 1.22. The company has a current ratio of 2.54, a quick ratio of 2.53 and a debt-to-equity ratio of 0.08. Xunlei has a 12-month low of $0.85 and a 12-month high of $2.23.

Xunlei (NASDAQ:XNET – Get Rating) last posted its earnings results on Thursday, March 16th. The software maker reported $0.02 earnings per share (EPS) for the quarter. The business had revenue of $96.96 million for the quarter. Xunlei had a net margin of 4.73% and a return on equity of 5.55%.

Xunlei Company Profile

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Xunlei Ltd. is a holding company, which provides shared cloud computing and blockchain technology services. It provides a wide range of products and services across cloud acceleration, blockchain, shared cloud computing and digital entertainment to deliver an efficient internet experience. The company was founded by Sheng Long Zou and Hao Cheng in December 2002 and is headquartered in Shenzhen, China.