Xunlei Ltd (NASDAQ:XNET) shares rose 5.1% during mid-day trading on Thursday . The stock traded as high as $16.60 and last traded at $16.36. Approximately 5,487,300 shares traded hands during trading, a decline of 47% from the average daily volume of 10,316,873 shares. The stock had previously closed at $15.56.
XNET has been the topic of several research reports. TheStreet upgraded shares of Xunlei from a “d+” rating to a “c-” rating in a research report on Monday, November 13th. BidaskClub downgraded shares of Xunlei from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 2nd. Finally, ValuEngine downgraded shares of Xunlei from a “hold” rating to a “sell” rating in a research report on Friday, December 1st.
The stock has a market cap of $1,120.00, a PE ratio of -22.22 and a beta of 1.45.
A number of hedge funds and other institutional investors have recently modified their holdings of XNET. Susquehanna International Group LLP raised its holdings in Xunlei by 234.8% during the 3rd quarter. Susquehanna International Group LLP now owns 60,218 shares of the software maker’s stock worth $256,000 after purchasing an additional 42,230 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Xunlei by 92.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 52,378 shares of the software maker’s stock worth $223,000 after purchasing an additional 25,130 shares during the last quarter. JPMorgan Chase & Co. bought a new stake in Xunlei during the 3rd quarter worth about $300,000. Finally, State Street Corp raised its holdings in Xunlei by 8.6% during the 2nd quarter. State Street Corp now owns 99,693 shares of the software maker’s stock worth $323,000 after purchasing an additional 7,880 shares during the last quarter. Institutional investors and hedge funds own 11.45% of the company’s stock.
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Xunlei Limited (Xunlei) is a cloud-based acceleration technology company. The Company operates an Internet platform in China based on cloud computing to enable users to access, manage and consume digital media content. The Company’s segment is the operation of its online media platform. The Company’s products and services include Xunlei Accelerator, which enables users to accelerate digital transmission over the Internet, and cloud acceleration subscription services, which offer user services for speed and reliability.
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