StockNews.com Initiates Coverage on Xunlei (NASDAQ:XNET)

Research analysts at StockNews.com initiated coverage on shares of Xunlei (NASDAQ:XNET) in a report issued on Thursday. The firm set a “buy” rating on the software maker’s stock.

Xunlei Price Performance

NASDAQ:XNET opened at $1.55 on Thursday. The company has a current ratio of 2.56, a quick ratio of 2.54 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $100.30 million, a P/E ratio of 6.74 and a beta of 1.22. Xunlei has a 12 month low of $1.28 and a 12 month high of $2.09. The business’s 50-day moving average is $1.51 and its 200 day moving average is $1.52.

Xunlei (NASDAQ:XNET) last issued its quarterly earnings data on Thursday, March 14th. The software maker reported $0.06 earnings per share (EPS) for the quarter. Xunlei had a return on equity of 4.48% and a net margin of 3.90%. The business had revenue of $77.14 million for the quarter.

Institutional Investors Weigh In On Xunlei

Several hedge funds and other institutional investors have recently modified their holdings of XNET. QRG Capital Management Inc. purchased a new stake in shares of Xunlei in the third quarter worth approximately $36,000. Acadian Asset Management LLC raised its holdings in shares of Xunlei by 30.4% in the third quarter. Acadian Asset Management LLC now owns 145,739 shares of the software maker’s stock worth $233,000 after buying an additional 33,993 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Xunlei by 25.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 261,275 shares of the software maker’s stock worth $423,000 after buying an additional 53,160 shares during the period. 5.07% of the stock is currently 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 various products, such as Green Channel.