Xunlei (NASDAQ:XNET) Coverage Initiated at StockNews.com

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

Xunlei Stock Performance

Shares of XNET opened at $1.57 on Friday. The company has a market capitalization of $100.75 million, a PE ratio of 5.80 and a beta of 1.14. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.68 and a current ratio of 2.70. The company’s 50 day moving average price is $1.62 and its 200 day moving average price is $1.64. Xunlei has a 52 week low of $1.36 and a 52 week high of $1.98.

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

Institutional Investors Weigh In On Xunlei

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