Initiates Coverage on Xunlei (NASDAQ:XNET) began coverage on shares of Xunlei (NASDAQ:XNETFree Report) in a research note issued to investors on Friday. The brokerage issued a buy rating on the software maker’s stock.

Xunlei Trading Up 0.7 %

XNET stock opened at $1.49 on Friday. The company has a quick ratio of 2.71, a current ratio of 2.46 and a debt-to-equity ratio of 0.05. Xunlei has a 52-week low of $1.28 and a 52-week high of $2.23. The company’s 50-day simple moving average is $1.57 and its 200-day simple moving average is $1.70. The firm has a market cap of $98.10 million, a P/E ratio of 7.83 and a beta of 1.38.

Hedge Funds Weigh In On Xunlei

Hedge funds and other institutional investors have recently modified their holdings of the business. Virtu Financial LLC acquired a new stake in Xunlei during the fourth quarter worth about $27,000. QRG Capital Management Inc. purchased a new position in Xunlei in the third quarter worth approximately $36,000. Millennium Management LLC acquired a new stake in Xunlei during the second quarter worth $35,000. Mercer Global Advisors Inc. ADV purchased a new stake in Xunlei in the third quarter valued at $36,000. Finally, Renaissance Technologies LLC lifted its stake in shares of Xunlei by 132.6% in the 2nd quarter. Renaissance Technologies LLC now owns 23,925 shares of the software maker’s stock valued at $47,000 after purchasing an additional 13,640 shares during the last quarter. 5.15% of the stock is owned by hedge funds and other institutional investors.

About Xunlei

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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.

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