Xunlei Limited (NASDAQ:XNET) Short Interest Down 66.0% in November

Xunlei Limited (NASDAQ:XNET) was the target of a significant drop in short interest in the month of November. As of November 30th, there was short interest totalling 19,000 shares, a drop of 66.0% from the November 15th total of 55,900 shares. Currently, 0.0% of the company’s stock are sold short. Based on an average daily trading volume, of 151,700 shares, the days-to-cover ratio is currently 0.1 days.

Xunlei Price Performance

XNET traded down $0.01 during trading on Wednesday, hitting $2.11. 62,014 shares of the company traded hands, compared to its average volume of 86,644. Xunlei has a 1 year low of $1.45 and a 1 year high of $2.41. The company has a market cap of $133.75 million, a PE ratio of 9.22 and a beta of 1.06. The stock’s 50-day simple moving average is $2.02 and its two-hundred day simple moving average is $1.80. The company has a current ratio of 2.92, a quick ratio of 2.91 and a debt-to-equity ratio of 0.04.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio purchased a new stake in shares of Xunlei during the 3rd quarter worth $109,000. Acadian Asset Management LLC raised its holdings in shares of Xunlei by 20.9% during the second quarter. Acadian Asset Management LLC now owns 176,254 shares of the software maker’s stock worth $294,000 after purchasing an additional 30,515 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in Xunlei by 3.5% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 300,092 shares of the software maker’s stock worth $555,000 after purchasing an additional 10,276 shares during the period. Finally, Rhumbline Advisers raised its stake in shares of Xunlei by 42.8% during the 2nd quarter. Rhumbline Advisers now owns 24,097 shares of the software maker’s stock valued at $40,000 after buying an additional 7,220 shares during the last quarter. Hedge funds and other institutional investors own 5.07% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Xunlei from a “buy” rating to a “strong-buy” rating in a research note on Monday.

About Xunlei

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.