Xunlei (NASDAQ:XNET) Downgraded by StockNews.com to Buy

StockNews.com cut shares of Xunlei (NASDAQ:XNET) from a strong-buy rating to a buy rating in a research note published on Thursday.

Xunlei Trading Up 3.2 %

XNET opened at $1.95 on Thursday. The stock has a market cap of $123.61 million, a PE ratio of 8.48 and a beta of 1.07. The business has a 50 day moving average of $1.95 and a 200-day moving average of $1.79. Xunlei has a 52 week low of $1.45 and a 52 week high of $2.41. The company has a quick ratio of 2.91, a current ratio of 2.92 and a debt-to-equity ratio of 0.04.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Rhumbline Advisers grew its holdings 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 period. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Xunlei by 3.5% in the 3rd 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. Acadian Asset Management LLC increased its position in Xunlei by 20.9% during the 2nd quarter. Acadian Asset Management LLC now owns 176,254 shares of the software maker’s stock valued at $294,000 after buying an additional 30,515 shares in the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new position in Xunlei during the third quarter valued at $109,000. 5.07% of the stock is currently owned by 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 Green Channel and Fast Bird products.