Xunlei (NASDAQ:XNET) Rating Increased to Strong-Buy at StockNews.com

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

Xunlei Price Performance

XNET opened at $2.15 on Thursday. The stock’s 50 day moving average price is $2.03 and its 200-day moving average price is $1.87. Xunlei has a 52-week low of $1.45 and a 52-week high of $2.41. The stock has a market capitalization of $136.29 million, a PE ratio of 9.35 and a beta of 1.05. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.91 and a current ratio of 2.92.

Institutional Investors Weigh In On Xunlei

Institutional investors and hedge funds have recently modified their holdings of the stock. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of 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 during the period. Public Employees Retirement System of Ohio purchased a new position in shares of Xunlei during the 3rd quarter worth approximately $109,000. Finally, Rhumbline Advisers raised its position in shares of Xunlei by 42.8% in the 2nd quarter. Rhumbline Advisers now owns 24,097 shares of the software maker’s stock worth $40,000 after acquiring an additional 7,220 shares in the last quarter. 5.07% of the stock is owned by hedge funds and other institutional investors.

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.