Xunlei (NASDAQ:XNET) Stock Crosses Below Two Hundred Day Moving Average of $1.63

Shares of Xunlei Limited (NASDAQ:XNET) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.63 and traded as low as $1.55. Xunlei shares last traded at $1.55, with a volume of 12,783 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on shares of Xunlei in a research note on Friday. They issued a “buy” rating for the company.

Xunlei Stock Performance

The stock has a market cap of $99.78 million, a price-to-earnings ratio of 5.74 and a beta of 1.12. The stock’s 50-day simple moving average is $1.66 and its two-hundred day simple moving average is $1.63. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.68 and a current ratio of 2.70.

Xunlei (NASDAQ:XNET) last announced its earnings results on Tuesday, August 13th. The software maker reported $0.04 earnings per share for the quarter. The firm had revenue of $79.33 million during the quarter. Xunlei had a return on equity of 4.47% and a net margin of 4.52%.

Hedge Funds Weigh In On Xunlei

An institutional investor recently raised its position in Xunlei stock. Rhumbline Advisers raised its stake in shares of Xunlei Limited (NASDAQ:XNET) by 42.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 24,097 shares of the software maker’s stock after purchasing an additional 7,220 shares during the quarter. Rhumbline Advisers’ holdings in Xunlei were worth $40,000 as of its most recent filing with the SEC. Institutional investors own 5.07% of the company’s stock.

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.