Xunlei (NASDAQ:XNET) Upgraded by StockNews.com to “Strong-Buy” Rating

StockNews.com upgraded shares of Xunlei (NASDAQ:XNET) from a hold rating to a strong-buy rating in a report released on Wednesday morning.

Xunlei Stock Down 2.6 %

Shares of NASDAQ XNET opened at $1.90 on Wednesday. The stock has a market capitalization of $120.97 million, a P/E ratio of 8.26 and a beta of 1.07. The company has a 50-day moving average price of $1.92 and a 200-day moving average price of $1.78. Xunlei has a 1 year low of $1.45 and a 1 year high of $2.41. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.92 and a quick ratio of 2.91.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in XNET. Rhumbline Advisers boosted its holdings in Xunlei by 42.8% during 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. Acadian Asset Management LLC boosted its holdings in Xunlei by 20.9% during the second quarter. Acadian Asset Management LLC now owns 176,254 shares of the software maker’s stock worth $294,000 after purchasing an additional 30,515 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Xunlei by 3.5% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 300,092 shares of the software maker’s stock worth $555,000 after purchasing an additional 10,276 shares during the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new position in Xunlei during the third quarter worth about $109,000. 5.07% of the stock is currently 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.