Xunlei (NASDAQ:XNET) Rating Lowered to Hold at StockNews.com

Xunlei (NASDAQ:XNET) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Tuesday.

Xunlei Stock Down 4.5 %

Shares of XNET stock traded down $0.10 on Tuesday, reaching $2.10. 99,573 shares of the stock were exchanged, compared to its average volume of 80,913. The company has a market capitalization of $133.71 million, a price-to-earnings ratio of 9.13 and a beta of 1.07. Xunlei has a twelve month low of $1.42 and a twelve month high of $2.41. The company has a current ratio of 2.70, a quick ratio of 2.68 and a debt-to-equity ratio of 0.04. The business’s 50 day moving average price is $1.88 and its 200 day moving average price is $1.76.

Xunlei (NASDAQ:XNET) last posted its quarterly earnings results on Tuesday, August 13th. The software maker reported $0.04 earnings per share (EPS) for the quarter. The firm had revenue of $79.33 million during the quarter. Xunlei had a net margin of 4.52% and a return on equity of 4.47%.

Hedge Funds Weigh In On Xunlei

A number of institutional investors and hedge funds have recently bought and sold shares of XNET. Connor Clark & Lunn Investment Management Ltd. lifted its position 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 lifted its holdings in shares of Xunlei by 20.9% in the second 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 during the period. Finally, Rhumbline Advisers boosted its position in shares of Xunlei by 42.8% during the 2nd quarter. Rhumbline Advisers now owns 24,097 shares of the software maker’s stock valued at $40,000 after purchasing an additional 7,220 shares in 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 Green Channel and Fast Bird products.