Xunlei (XNET) Shares Down 10.4%

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Shares of Xunlei Ltd (NASDAQ:XNET) fell 10.4% during mid-day trading on Thursday . The stock traded as low as $3.80 and last traded at $3.80. 1,180,184 shares traded hands during mid-day trading, an increase of 25% from the average session volume of 947,213 shares. The stock had previously closed at $4.24.

XNET has been the subject of a number of research analyst reports. ValuEngine upgraded Xunlei from a “hold” rating to a “buy” rating in a report on Monday, April 1st. BidaskClub cut Xunlei from a “sell” rating to a “strong sell” rating in a report on Tuesday, December 18th.

Xunlei (NASDAQ:XNET) last released its quarterly earnings results on Thursday, March 7th. The software maker reported ($0.48) earnings per share for the quarter. The business had revenue of $41.98 million for the quarter. Xunlei had a negative return on equity of 10.77% and a negative net margin of 17.03%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in XNET. Legal & General Group Plc acquired a new stake in Xunlei in the 3rd quarter valued at about $31,000. Segantii Capital Management Ltd acquired a new stake in Xunlei in the 1st quarter valued at about $27,000. Virtu Financial LLC acquired a new stake in Xunlei in the 3rd quarter valued at about $124,000. Geode Capital Management LLC raised its position in Xunlei by 42.7% in the 4th quarter. Geode Capital Management LLC now owns 27,553 shares of the software maker’s stock valued at $93,000 after purchasing an additional 8,244 shares in the last quarter. Finally, WINTON GROUP Ltd raised its position in Xunlei by 12.4% in the 4th quarter. WINTON GROUP Ltd now owns 28,279 shares of the software maker’s stock valued at $96,000 after purchasing an additional 3,122 shares in the last quarter. Institutional investors and hedge funds own 17.56% of the company’s stock.

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About Xunlei (NASDAQ:XNET)

Xunlei Limited, a cloud-based acceleration technology company, operates an Internet platform for digital media content in the People's Republic of China. The company's platform is based on cloud computing that enables users to access, manage, and consume digital media content. It offers Xunlei Accelerator, which enables users to accelerate digital transmission over the Internet; and cloud acceleration subscription services that offer users premium services through various products, such as Green Channel and Offline Accelerator.

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