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

Equities researchers at StockNews.com initiated coverage on shares of Xunlei (NASDAQ:XNET) in a research note issued on Thursday. The firm set a “buy” rating on the software maker’s stock.

Xunlei Trading Down 1.3 %

Shares of NASDAQ XNET opened at $1.52 on Thursday. The company has a quick ratio of 2.71, a current ratio of 2.72 and a debt-to-equity ratio of 0.07. The stock’s 50 day moving average price is $1.59 and its two-hundred day moving average price is $1.70. Xunlei has a 52-week low of $1.28 and a 52-week high of $2.23. The stock has a market capitalization of $100.08 million, a P/E ratio of 6.33 and a beta of 1.38.

Xunlei (NASDAQ:XNET) last issued its quarterly earnings results on Tuesday, August 15th. The software maker reported $0.08 earnings per share for the quarter. Xunlei had a return on equity of 5.19% and a net margin of 4.15%. The business had revenue of $104.01 million during the quarter.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Envestnet Asset Management Inc. raised its stake in Xunlei by 105.6% during the first quarter. Envestnet Asset Management Inc. now owns 122,338 shares of the software maker’s stock worth $96,000 after acquiring an additional 62,834 shares during the period. Acadian Asset Management LLC raised its position in shares of Xunlei by 78.8% during the 2nd quarter. Acadian Asset Management LLC now owns 111,746 shares of the software maker’s stock worth $220,000 after purchasing an additional 49,251 shares during the period. State Street Corp lifted its holdings in shares of Xunlei by 9.9% in the 1st quarter. State Street Corp now owns 87,201 shares of the software maker’s stock worth $160,000 after purchasing an additional 7,869 shares during the last quarter. Jane Street Group LLC bought a new position in Xunlei during the 3rd quarter worth $73,000. Finally, UBS Group AG increased its position in Xunlei by 2,164.5% in the third quarter. UBS Group AG now owns 52,173 shares of the software maker’s stock worth $73,000 after buying an additional 49,869 shares during the period. 5.15% 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 various products, such as Green Channel.