StockNews.com Initiates Coverage on Xunlei (NASDAQ:XNET)

Equities researchers at StockNews.com began coverage on shares of Xunlei (NASDAQ:XNET) in a report released on Friday. The brokerage set a “buy” rating on the software maker’s stock.

Xunlei Stock Performance

Shares of NASDAQ:XNET opened at $1.55 on Friday. The company’s 50-day moving average price is $1.66 and its two-hundred day moving average price is $1.63. Xunlei has a one year low of $1.36 and a one year high of $1.98. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.70 and a quick ratio of 2.68. The stock has a market capitalization of $99.78 million, a PE ratio of 5.74 and a beta of 1.14.

Xunlei (NASDAQ:XNET) last issued its quarterly earnings results on Tuesday, August 13th. The software maker reported $0.04 EPS for the quarter. The firm had revenue of $79.33 million during the quarter. Xunlei had a return on equity of 4.47% and a net margin of 4.52%.

Institutional Investors Weigh In On Xunlei

An institutional investor recently raised its position in Xunlei stock. Rhumbline Advisers raised its holdings in shares of Xunlei Limited (NASDAQ:XNET) by 42.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,097 shares of the software maker’s stock after purchasing an additional 7,220 shares during the quarter. Rhumbline Advisers’ holdings in Xunlei were worth $40,000 at the end of the most recent reporting period. 5.07% of the stock is currently owned by institutional investors and hedge funds.

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.