StockNews.com Downgrades Xunlei (NASDAQ:XNET) to Hold

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

Xunlei Stock Performance

NASDAQ XNET traded down $0.10 during midday trading on Tuesday, hitting $2.10. The company had a trading volume of 99,573 shares, compared to its average volume of 80,913. Xunlei has a fifty-two week low of $1.42 and a fifty-two week high of $2.41. The company has a quick ratio of 2.68, a current ratio of 2.70 and a debt-to-equity ratio of 0.04. The stock has a market cap of $133.71 million, a price-to-earnings ratio of 9.13 and a beta of 1.07. The firm has a fifty day simple moving average of $1.88 and a two-hundred day simple moving average of $1.76.

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

Hedge Funds Weigh In On Xunlei

Several institutional investors have recently modified their holdings of XNET. Rhumbline Advisers lifted its position in Xunlei by 42.8% in the 2nd quarter. Rhumbline Advisers now owns 24,097 shares of the software maker’s stock valued at $40,000 after acquiring an additional 7,220 shares in the last quarter. Acadian Asset Management LLC lifted its position in shares of Xunlei by 20.9% in the second quarter. Acadian Asset Management LLC now owns 176,254 shares of the software maker’s stock worth $294,000 after purchasing an additional 30,515 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Xunlei by 3.5% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 300,092 shares of the software maker’s stock worth $555,000 after purchasing an additional 10,276 shares during the last quarter. 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 Green Channel and Fast Bird products.