Xunlei (NASDAQ:XNET) Rating Lowered to “Buy” at StockNews.com

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

Xunlei Price Performance

NASDAQ XNET opened at $2.07 on Wednesday. Xunlei has a one year low of $1.45 and a one year high of $2.41. The stock has a 50-day moving average of $2.03 and a 200 day moving average of $1.85. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.91 and a current ratio of 2.92. The company has a market capitalization of $131.22 million, a price-to-earnings ratio of 9.00 and a beta of 1.05.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in XNET. Rhumbline Advisers grew its position in Xunlei by 42.8% in the 2nd 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 period. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Xunlei by 3.5% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 300,092 shares of the software maker’s stock worth $555,000 after buying an additional 10,276 shares during the last quarter. Acadian Asset Management LLC grew its holdings in shares of Xunlei by 20.9% in the second quarter. Acadian Asset Management LLC now owns 176,254 shares of the software maker’s stock worth $294,000 after acquiring an additional 30,515 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new stake in Xunlei during the third quarter valued at $109,000. 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.