Short Interest in Xunlei Limited (NASDAQ:XNET) Drops By 26.6%

Xunlei Limited (NASDAQ:XNET - Get Free Report) was the recipient of a large decrease in short interest in March. As of March 15th, there was short interest totalling 1,050,000 shares, a decrease of 26.6% from the February 28th total of 1,430,000 shares. Based on an average daily trading volume, of 1,270,000 shares, the days-to-cover ratio is presently 0.8 days. Approximately 1.7% of the shares of the stock are sold short.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of XNET. Two Sigma Securities LLC bought a new stake in shares of Xunlei during the 4th quarter worth approximately $36,000. Marshall Wace LLP bought a new stake in shares of Xunlei during the fourth quarter worth $84,000. Russell Investments Group Ltd. purchased a new stake in shares of Xunlei during the fourth quarter valued at $52,000. Sei Investments Co. bought a new position in shares of Xunlei in the fourth quarter worth about $53,000. Finally, Public Employees Retirement System of Ohio purchased a new position in Xunlei in the 3rd quarter worth about $109,000. Hedge funds and other institutional investors own 5.07% of the company's stock.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered Xunlei from a "strong-buy" rating to a "buy" rating in a research report on Friday, March 7th.

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Xunlei Trading Down 1.7 %

Shares of NASDAQ XNET traded down $0.08 during trading hours on Wednesday, hitting $4.62. 339,742 shares of the company traded hands, compared to its average volume of 407,925. The company's 50 day moving average price is $3.72 and its 200 day moving average price is $2.60. Xunlei has a 12 month low of $1.46 and a 12 month high of $5.52. The stock has a market capitalization of $283.99 million, a price-to-earnings ratio of 20.09 and a beta of 1.03. The company has a current ratio of 2.92, a quick ratio of 2.91 and a debt-to-equity ratio of 0.04.

Xunlei (NASDAQ:XNET - Get Free Report) last posted its quarterly earnings data on Thursday, March 13th. The software maker reported $0.17 earnings per share for the quarter. The business had revenue of $84.30 million for the quarter. Xunlei had a net margin of 4.65% and a return on equity of 4.47%.

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.