Xunlei (NASDAQ:XNET) Upgraded at Wall Street Zen

Xunlei (NASDAQ:XNET) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

Xunlei Stock Up 26.5%

Xunlei stock opened at $6.39 on Friday. The company has a market capitalization of $398.56 million, a P/E ratio of 0.56 and a beta of 0.88. The firm’s fifty day simple moving average is $4.73 and its 200-day simple moving average is $4.37. The company has a current ratio of 2.60, a quick ratio of 2.60 and a debt-to-equity ratio of 0.09. Xunlei has a 1-year low of $1.51 and a 1-year high of $7.19.

Xunlei (NASDAQ:XNET) last released its quarterly earnings results on Thursday, August 14th. The software maker reported $0.12 earnings per share for the quarter. The business had revenue of $103.54 million for the quarter. Xunlei had a net margin of 202.62% and a return on equity of 7.00%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of XNET. Nomura Holdings Inc. bought a new position in shares of Xunlei during the 1st quarter valued at $1,965,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Xunlei by 314.7% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 196,328 shares of the software maker’s stock worth $795,000 after acquiring an additional 148,982 shares during the period. Jane Street Group LLC lifted its position in Xunlei by 827.1% during the 2nd quarter. Jane Street Group LLC now owns 88,917 shares of the software maker’s stock worth $360,000 after acquiring an additional 101,146 shares during the last quarter. Marshall Wace LLP acquired a new position in Xunlei during the 2nd quarter worth $219,000. Finally, XTX Topco Ltd lifted its position in Xunlei by 244.1% during the 2nd quarter. XTX Topco Ltd now owns 75,032 shares of the software maker’s stock worth $304,000 after acquiring an additional 53,226 shares during the last quarter. Institutional investors own 5.07% of the company’s stock.

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 Green Channel and Fast Bird products.