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

StockNews.com assumed coverage on shares of Xunlei (NASDAQ:XNET) in a research note issued to investors on Tuesday. The firm issued a buy rating on the software maker’s stock.

Xunlei Stock Performance

NASDAQ XNET opened at $1.48 on Tuesday. The stock has a market capitalization of $95.76 million, a PE ratio of 6.43 and a beta of 1.23. The business has a 50 day simple moving average of $1.50 and a two-hundred day simple moving average of $1.53. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.56 and a quick ratio of 2.54. Xunlei has a 1-year low of $1.28 and a 1-year high of $2.09.

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

Hedge Funds Weigh In On Xunlei

Several institutional investors have recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. lifted its stake in shares of Xunlei by 105.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 122,338 shares of the software maker’s stock valued at $96,000 after purchasing an additional 62,834 shares during the last quarter. Acadian Asset Management LLC bought a new stake in shares of Xunlei in the 1st quarter valued at approximately $114,000. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Xunlei by 25.5% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 261,275 shares of the software maker’s stock valued at $423,000 after purchasing an additional 53,160 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of Xunlei during the 3rd quarter worth approximately $73,000. Finally, UBS Group AG lifted its stake in shares of Xunlei by 2,164.5% during the 3rd quarter. UBS Group AG now owns 52,173 shares of the software maker’s stock worth $73,000 after acquiring an additional 49,869 shares during the last quarter. Hedge funds and other institutional investors own 5.07% of the company’s stock.

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.