Xunlei Limited (NASDAQ:XNET) Sees Significant Decline in Short Interest

Xunlei Limited (NASDAQ:XNET) was the target of a significant decrease in short interest in the month of January. As of January 30th, there was short interest totaling 1,505,375 shares, a decrease of 15.5% from the January 15th total of 1,782,113 shares. Based on an average trading volume of 308,739 shares, the days-to-cover ratio is currently 4.9 days. Currently, 3.1% of the company’s stock are sold short. Currently, 3.1% of the company’s stock are sold short. Based on an average trading volume of 308,739 shares, the days-to-cover ratio is currently 4.9 days.

Xunlei Price Performance

Xunlei stock opened at $5.79 on Monday. The company has a current ratio of 2.02, a quick ratio of 2.01 and a debt-to-equity ratio of 0.03. The company has a fifty day simple moving average of $6.94 and a 200-day simple moving average of $7.40. The stock has a market cap of $363.55 million, a P/E ratio of 0.29 and a beta of 1.10. Xunlei has a 12-month low of $2.64 and a 12-month high of $11.03.

Xunlei (NASDAQ:XNET) last posted its earnings results on Thursday, November 13th. The software maker reported $0.07 EPS for the quarter. The firm had revenue of $125.93 million for the quarter. Xunlei had a return on equity of 2.75% and a net margin of 315.06%.

Institutional Investors Weigh In On Xunlei

Hedge funds and other institutional investors have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Xunlei during the fourth quarter worth approximately $31,000. Skandinaviska Enskilda Banken AB publ acquired a new stake in Xunlei during the third quarter worth approximately $112,000. Walleye Capital LLC purchased a new stake in shares of Xunlei during the 2nd quarter worth approximately $51,000. Russell Investments Group Ltd. acquired a new position in shares of Xunlei in the 3rd quarter valued at $153,000. Finally, NewEdge Advisors LLC boosted its holdings in shares of Xunlei by 9,106.5% in the 1st quarter. NewEdge Advisors LLC now owns 18,413 shares of the software maker’s stock valued at $83,000 after buying an additional 18,213 shares in the last quarter. Institutional investors and hedge funds own 5.07% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings downgraded Xunlei from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, February 5th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company has an average rating of “Hold”.

Xunlei Company Profile

Xunlei Limited (NASDAQ: XNET) is a China-based technology company specializing in content acceleration and cloud services. Its core offerings include the Xunlei download manager, which integrates peer-to-peer (P2P) and cloud-based acceleration technologies to enhance file delivery speeds for large downloads. The company has expanded its suite of products to encompass cloud storage solutions, media streaming applications and mobile browsing tools, all aimed at improving digital content distribution and user experience.

Founded in 2003 and headquartered in Shenzhen, Xunlei originally gained traction by addressing bandwidth constraints in China’s burgeoning internet market.