StockNews.com upgraded shares of Xunlei (NASDAQ:XNET - Free Report) from a buy rating to a strong-buy rating in a research note released on Thursday morning.
Xunlei Stock Performance
NASDAQ:XNET remained flat at $2.15 on Thursday. 79,197 shares of the company's stock were exchanged, compared to its average volume of 90,928. The stock's 50-day moving average price is $2.03 and its 200-day moving average price is $1.87. The company has a current ratio of 2.92, a quick ratio of 2.91 and a debt-to-equity ratio of 0.04. The company has a market cap of $136.29 million, a PE ratio of 9.35 and a beta of 1.05. Xunlei has a one year low of $1.45 and a one year high of $2.41.
Institutional Trading of Xunlei
A number of hedge funds and other institutional investors have recently made changes to their positions in XNET. Public Employees Retirement System of Ohio acquired a new position in Xunlei during the 3rd quarter worth $109,000. Connor Clark & Lunn Investment Management Ltd. grew its stake in Xunlei by 3.5% in 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 in the last quarter. Finally, Rhumbline Advisers increased its holdings in Xunlei by 42.8% in the second quarter. Rhumbline Advisers now owns 24,097 shares of the software maker's stock valued at $40,000 after buying an additional 7,220 shares during the last quarter. Institutional investors own 5.07% of the company's stock.
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 Green Channel and Fast Bird products.
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