StockNews.com Downgrades Xunlei (NASDAQ:XNET) to Hold

StockNews.com downgraded shares of Xunlei (NASDAQ:XNET) from a buy rating to a hold rating in a research report released on Tuesday.

Xunlei Trading Down 6.1 %

Shares of Xunlei stock opened at $1.84 on Tuesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.70 and a quick ratio of 2.68. Xunlei has a 1 year low of $1.42 and a 1 year high of $2.41. The firm has a market cap of $117.15 million, a PE ratio of 8.00 and a beta of 1.07. The company has a 50 day simple moving average of $1.90 and a two-hundred day simple moving average of $1.77.

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

Hedge Funds Weigh In On Xunlei

A number of large investors have recently added to or reduced their stakes in the business. Rhumbline Advisers boosted its stake in shares of Xunlei by 42.8% during the second 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 during the period. Acadian Asset Management LLC boosted its holdings in 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 acquiring an additional 30,515 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in Xunlei by 3.5% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 300,092 shares of the software maker’s stock valued at $555,000 after purchasing an additional 10,276 shares during the period. Finally, Public Employees Retirement System of Ohio bought a new position in Xunlei in the 3rd quarter worth $109,000. Hedge funds and other institutional investors own 5.07% of the company’s stock.

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.