Xunlei (NASDAQ:XNET) Upgraded at StockNews.com

Xunlei (NASDAQ:XNET) was upgraded by equities researchers at StockNews.com from a “buy” rating to a “strong-buy” rating in a note issued to investors on Thursday.

Xunlei Trading Up 2.4 %

Shares of NASDAQ:XNET opened at $2.15 on Thursday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.92 and a quick ratio of 2.91. Xunlei has a 1 year low of $1.45 and a 1 year high of $2.41. The company has a market cap of $136.29 million, a P/E ratio of 9.35 and a beta of 1.05. The stock’s fifty day moving average price is $2.03 and its 200-day moving average price is $1.87.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Rhumbline Advisers boosted its position in Xunlei by 42.8% in the second quarter. Rhumbline Advisers now owns 24,097 shares of the software maker’s stock worth $40,000 after purchasing an additional 7,220 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of Xunlei in the 3rd quarter worth approximately $109,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of 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 worth $555,000 after buying an additional 10,276 shares during the last quarter. 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.