Xunlei (XNET) Set to Announce Quarterly Earnings on Tuesday

Xunlei (NASDAQ:XNET) is set to announce its earnings results before the market opens on Tuesday, November 14th. Xunlei has set its Q3 2023 guidance at EPS.

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 for the quarter.

Xunlei Trading Down 1.3 %

NASDAQ:XNET opened at $1.52 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.72 and a quick ratio of 2.71. Xunlei has a fifty-two week low of $1.28 and a fifty-two week high of $2.23. The stock’s 50-day moving average is $1.59 and its two-hundred day moving average is $1.70. The stock has a market cap of $100.08 million, a PE ratio of 6.33 and a beta of 1.38.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on shares of Xunlei in a research report on Thursday. They set a “buy” rating on the stock.

Hedge Funds Weigh In On Xunlei

Several institutional investors and hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC grew its stake in Xunlei by 132.6% in the second quarter. Renaissance Technologies LLC now owns 23,925 shares of the software maker’s stock valued at $47,000 after purchasing an additional 13,640 shares in the last quarter. Harvest Portfolios Group Inc. bought a new stake in shares of Xunlei in the 1st quarter valued at approximately $57,000. State Street Corp grew its stake 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 valued at $160,000 after buying an additional 7,869 shares in the last quarter. Acadian Asset Management LLC bought a new stake in shares of Xunlei in the 1st quarter valued at approximately $114,000. Finally, Envestnet Asset Management Inc. grew its stake in shares of Xunlei by 105.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 122,338 shares of the software maker’s stock valued at $96,000 after buying an additional 62,834 shares in the last quarter. 5.15% of the stock is currently owned by hedge funds and other institutional investors.

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 various products, such as Green Channel.