Xunlei (NASDAQ:XNET) Coverage Initiated at StockNews.com

StockNews.com assumed coverage on shares of Xunlei (NASDAQ:XNET) in a report published on Friday. The firm issued a buy rating on the software maker’s stock.

Xunlei Price Performance

Shares of XNET stock opened at $1.49 on Friday. The firm has a market capitalization of $98.10 million, a price-to-earnings ratio of 7.83 and a beta of 1.38. The company has a current ratio of 2.46, a quick ratio of 2.71 and a debt-to-equity ratio of 0.05. The firm’s 50 day moving average is $1.57 and its 200-day moving average is $1.70. Xunlei has a 1 year low of $1.28 and a 1 year high of $2.23.

Hedge Funds Weigh In On Xunlei

Several hedge funds have recently added to or reduced their stakes in the company. Virtu Financial LLC acquired a new stake in shares of Xunlei in the 4th quarter valued at approximately $27,000. Millennium Management LLC bought a new stake in Xunlei in the 2nd quarter valued at approximately $35,000. QRG Capital Management Inc. acquired a new position in Xunlei during the third quarter worth $36,000. Mercer Global Advisors Inc. ADV acquired a new position in shares of Xunlei during the 3rd quarter worth about $36,000. Finally, JPMorgan Chase & Co. grew 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. Institutional investors own 5.15% 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 various products, such as Green Channel.