Shares of Xunlei Ltd (NASDAQ:XNET) rose 5.5% on Tuesday . The stock traded as high as $2.91 and last traded at $2.86. Approximately 570,033 shares traded hands during mid-day trading, a decline of 34% from the average daily volume of 861,731 shares. The stock had previously closed at $2.71.
Separately, ValuEngine raised shares of Xunlei from a “hold” rating to a “buy” rating in a report on Monday, April 1st.
The company has a debt-to-equity ratio of 0.04, a quick ratio of 3.24 and a current ratio of 3.34.
A number of hedge funds have recently added to or reduced their stakes in XNET. Segantii Capital Management Ltd purchased a new stake in Xunlei during the first quarter worth about $27,000. Legal & General Group Plc purchased a new stake in Xunlei during the third quarter worth about $31,000. Stevens Capital Management LP purchased a new stake in Xunlei during the first quarter worth about $39,000. Geode Capital Management LLC boosted its holdings in Xunlei by 42.7% during the fourth quarter. Geode Capital Management LLC now owns 27,553 shares of the software maker’s stock worth $93,000 after buying an additional 8,244 shares in the last quarter. Finally, WINTON GROUP Ltd boosted its holdings in Xunlei by 12.4% during the fourth quarter. WINTON GROUP Ltd now owns 28,279 shares of the software maker’s stock worth $96,000 after buying an additional 3,122 shares in the last quarter. 17.06% of the stock is currently owned by hedge funds and other institutional investors.
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About Xunlei (NASDAQ:XNET)
Xunlei Limited, a cloud-based acceleration technology company, operates an Internet platform for digital media content in the People's Republic of China. The company's platform is based on cloud computing that enables users to access, manage, and consume digital media content. It offers Xunlei Accelerator, which enables users to accelerate digital transmission over the Internet; and cloud acceleration subscription services that offer users premium services through various products, such as Green Channel and Offline Accelerator.
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