Xunlei (NASDAQ:XNET) Downgraded to Buy Rating by StockNews.com

Xunlei (NASDAQ:XNET) was downgraded by stock analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued on Tuesday.

Xunlei Stock Performance

XNET opened at $2.02 on Tuesday. The business has a fifty day simple moving average of $2.01 and a 200-day simple moving average of $1.82. The firm has a market cap of $128.05 million, a PE ratio of 8.78 and a beta of 1.06. The company has a quick ratio of 2.91, a current ratio of 2.92 and a debt-to-equity ratio of 0.04. Xunlei has a fifty-two week low of $1.45 and a fifty-two week high of $2.41.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Rhumbline Advisers grew its holdings in shares of Xunlei by 42.8% during the second quarter. Rhumbline Advisers now owns 24,097 shares of the software maker’s stock valued at $40,000 after buying an additional 7,220 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in Xunlei during the 3rd quarter worth about $109,000. Acadian Asset Management LLC boosted its position in Xunlei by 20.9% during the 2nd quarter. Acadian Asset Management LLC now owns 176,254 shares of the software maker’s stock worth $294,000 after acquiring an additional 30,515 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in Xunlei by 3.5% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 300,092 shares of the software maker’s stock valued at $555,000 after acquiring an additional 10,276 shares in the last quarter. 5.07% of the stock is owned by hedge funds and other institutional investors.

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.