Xunlei (NASDAQ:XNET) Stock Passes Above 50-Day Moving Average of $1.50

Xunlei Limited (NASDAQ:XNET)’s stock price passed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $1.50 and traded as high as $1.62. Xunlei shares last traded at $1.56, with a volume of 60,654 shares trading hands.

Wall Street Analyst Weigh In

Separately, StockNews.com started coverage on shares of Xunlei in a research note on Wednesday. They set a “buy” rating for the company.

Xunlei Price Performance

The stock has a market capitalization of $100.95 million, a price-to-earnings ratio of 6.78 and a beta of 1.23. The company’s 50-day simple moving average is $1.50 and its 200-day simple moving average is $1.53. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.56 and a quick ratio of 2.54.

Xunlei (NASDAQ:XNET) last released its quarterly earnings results on Thursday, March 14th. The software maker reported $0.06 earnings per share for the quarter. Xunlei had a return on equity of 4.48% and a net margin of 3.90%. The business had revenue of $77.14 million during the quarter.

Hedge Funds Weigh In On Xunlei

Several institutional investors and hedge funds have recently modified their holdings of the business. QRG Capital Management Inc. bought a new stake in Xunlei in the 3rd quarter valued at about $36,000. Acadian Asset Management LLC raised its position in shares of Xunlei by 30.4% in the third quarter. Acadian Asset Management LLC now owns 145,739 shares of the software maker’s stock valued at $233,000 after buying an additional 33,993 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Xunlei by 25.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 261,275 shares of the software maker’s stock valued at $423,000 after buying an additional 53,160 shares during the period. 5.07% of the stock is currently 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.