StockNews.com Upgrades Xunlei (NASDAQ:XNET) to “Strong-Buy”

Xunlei (NASDAQ:XNET) was upgraded by StockNews.com from a “buy” rating to a “strong-buy” rating in a note issued to investors on Monday.

Xunlei Stock Up 5.4 %

Xunlei stock traded up $0.11 during mid-day trading on Monday, reaching $2.16. 170,823 shares of the company’s stock were exchanged, compared to its average volume of 124,008. The company has a fifty day moving average of $2.03 and a 200-day moving average of $1.84. The company has a market cap of $136.93 million, a P/E ratio of 9.39 and a beta of 1.05. The company has a quick ratio of 2.91, a current ratio of 2.92 and a debt-to-equity ratio of 0.04. Xunlei has a twelve month low of $1.45 and a twelve month high of $2.41.

Institutional Investors Weigh In On Xunlei

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

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.