Xunlei (NASDAQ:XNET) Upgraded at StockNews.com

StockNews.com upgraded shares of Xunlei (NASDAQ:XNET) from a buy rating to a strong-buy rating in a research note published on Thursday.

Xunlei Stock Performance

Shares of XNET stock opened at $2.35 on Thursday. The company has a current ratio of 2.92, a quick ratio of 2.91 and a debt-to-equity ratio of 0.04. Xunlei has a 12-month low of $1.45 and a 12-month high of $2.41. The stock has a 50 day simple moving average of $2.05 and a 200-day simple moving average of $1.87. The company has a market cap of $148.97 million, a price-to-earnings ratio of 10.22 and a beta of 1.05.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Rhumbline Advisers lifted 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 purchasing an additional 7,220 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in Xunlei by 3.5% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 300,092 shares of the software maker’s stock valued at $555,000 after buying an additional 10,276 shares in the last quarter. Finally, Public Employees Retirement System of Ohio bought a new position in Xunlei during the 3rd quarter worth approximately $109,000. 5.07% of the stock is owned by institutional investors and hedge funds.

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.