Xunlei (NASDAQ:XNET) Coverage Initiated at StockNews.com

StockNews.com assumed coverage on shares of Xunlei (NASDAQ:XNET) in a research report sent to investors on Wednesday morning. The brokerage issued a buy rating on the software maker’s stock.

Xunlei Stock Up 0.6 %

XNET opened at $1.57 on Wednesday. The business has a 50 day moving average price of $1.50 and a two-hundred day moving average price of $1.52. The company has a quick ratio of 2.54, a current ratio of 2.56 and a debt-to-equity ratio of 0.05. The company has a market cap of $101.59 million, a PE ratio of 6.83 and a beta of 1.23. Xunlei has a 52 week low of $1.28 and a 52 week high of $2.09.

Xunlei (NASDAQ:XNET) last posted its quarterly earnings data on Thursday, March 14th. The software maker reported $0.06 EPS for the quarter. The firm had revenue of $77.14 million during the quarter. Xunlei had a return on equity of 4.48% and a net margin of 3.90%.

Institutional Trading of Xunlei

Several institutional investors and hedge funds have recently added to or reduced their stakes in XNET. Connor Clark & Lunn Investment Management Ltd. raised its stake in Xunlei by 25.5% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 261,275 shares of the software maker’s stock valued at $423,000 after acquiring an additional 53,160 shares during the last quarter. Acadian Asset Management LLC raised its stake in shares of Xunlei by 30.4% during the 3rd quarter. Acadian Asset Management LLC now owns 145,739 shares of the software maker’s stock worth $233,000 after buying an additional 33,993 shares in the last quarter. Finally, QRG Capital Management Inc. purchased a new position in shares of Xunlei during the 3rd quarter worth approximately $36,000. 5.07% of the stock is owned by hedge funds and other institutional investors.

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 various products, such as Green Channel.