Xunlei (NASDAQ:XNET) Upgraded by StockNews.com to “Strong-Buy” Rating

Xunlei (NASDAQ:XNET) was upgraded by investment analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a report issued on Monday.

Xunlei Stock Down 2.3 %

Shares of XNET stock opened at $2.11 on Monday. Xunlei has a fifty-two week low of $1.45 and a fifty-two week high of $2.41. The firm has a market capitalization of $133.76 million, a PE ratio of 9.17 and a beta of 1.05. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.91 and a current ratio of 2.92. The stock’s 50-day simple moving average is $2.03 and its 200-day simple moving average is $1.84.

Hedge Funds Weigh In On Xunlei

A number of institutional investors have recently bought and sold shares of XNET. Public Employees Retirement System of Ohio purchased a new stake in shares of Xunlei in the 3rd quarter valued at $109,000. Acadian Asset Management LLC lifted its position in Xunlei by 20.9% during the second quarter. Acadian Asset Management LLC now owns 176,254 shares of the software maker’s stock valued at $294,000 after purchasing an additional 30,515 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in 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 valued at $555,000 after purchasing an additional 10,276 shares during the last quarter. Finally, Rhumbline Advisers grew its holdings in Xunlei by 42.8% during the second quarter. Rhumbline Advisers now owns 24,097 shares of the software maker’s stock worth $40,000 after acquiring an additional 7,220 shares during the period. 5.07% of the stock is owned by hedge funds and other institutional investors.

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 Green Channel and Fast Bird products.