Xunlei (NASDAQ:XNET) Upgraded at StockNews.com

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

Xunlei Stock Up 5.8 %

NASDAQ XNET traded up $0.12 on Monday, reaching $2.19. The company had a trading volume of 380,878 shares, compared to its average volume of 86,550. The firm has a market capitalization of $138.82 million, a PE ratio of 9.52 and a beta of 1.06. Xunlei has a 1 year low of $1.45 and a 1 year high of $2.41. The firm has a 50-day moving average of $2.02 and a 200-day moving average of $1.80. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.92 and a quick ratio of 2.91.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Rhumbline Advisers grew its holdings in 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 acquiring an additional 7,220 shares during the period. Acadian Asset Management LLC grew its holdings in Xunlei by 20.9% during the second quarter. Acadian Asset Management LLC now owns 176,254 shares of the software maker’s stock worth $294,000 after acquiring an additional 30,515 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its position 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 during the period. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Xunlei in the 3rd quarter valued at $109,000. 5.07% of the stock is owned by institutional investors and hedge funds.

Xunlei Company Profile

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.