Xunlei (NASDAQ:XNET) Stock Crosses Above 50 Day Moving Average – Time to Sell?

Xunlei Limited (NASDAQ:XNET) crossed above its 50-day moving average during trading on Friday. The stock has a 50-day moving average of $4.96 and traded as high as $5.05. Xunlei shares last traded at $5.01, with a volume of 212,382 shares changing hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded shares of Xunlei from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, September 28th. One research analyst has rated the stock with a Hold rating. Based on data from MarketBeat, the company currently has an average rating of “Hold”.

Xunlei Trading Up 4.2%

The company has a 50 day moving average of $4.96 and a two-hundred day moving average of $5.45. The stock has a market capitalization of $319.34 million, a PE ratio of -4.04 and a beta of 1.05. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.03 and a current ratio of 2.03.

Xunlei (NASDAQ:XNET) last released its quarterly earnings results on Thursday, August 13th. The software maker reported ($0.03) EPS for the quarter. Xunlei had a negative net margin of 15.25% and a positive return on equity of 0.62%. The business had revenue of $102.11 million during the quarter.

Xunlei announced that its board has approved a share repurchase program on Friday, June 26th that authorizes the company to repurchase $0.00 in shares. This repurchase authorization authorizes the software maker to purchase shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Renaissance Technologies LLC purchased a new stake in shares of Xunlei in the 1st quarter valued at $497,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Xunlei during the 2nd quarter worth about $251,000. QRG Capital Management Inc. increased its stake in shares of Xunlei by 36.2% in the 1st quarter. QRG Capital Management Inc. now owns 17,200 shares of the software maker’s stock valued at $96,000 after purchasing an additional 4,575 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new position in Xunlei in the 4th quarter worth about $38,000. Institutional investors and hedge funds own 5.07% of the company’s stock.

About Xunlei

Xunlei Limited (NASDAQ:XNET) is a Chinese technology company that provides cloud-based products and services designed to help users access, store, manage and share digital content. Its primary consumer brand, Xunlei, offers download acceleration and related internet services through desktop and mobile applications.

The company also operates cloud services, including cloud storage and cloud acceleration products that use distributed computing and network resources to improve the delivery of digital content.