Xunlei (NASDAQ:XNET) Shares Down 18.6%

Xunlei Ltd (NASDAQ:XNET)’s share price fell 18.6% on Thursday . The stock traded as low as $4.66 and last traded at $4.73, 5,178,700 shares traded hands during trading. An increase of 216% from the average session volume of 1,637,778 shares. The stock had previously closed at $5.81.

A number of equities analysts have commented on XNET shares. ValuEngine lowered shares of Xunlei from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. BidaskClub upgraded shares of Xunlei from a “strong sell” rating to a “sell” rating in a research report on Tuesday, October 29th.

The company has a debt-to-equity ratio of 0.04, a current ratio of 3.37 and a quick ratio of 3.28. The stock’s 50-day simple moving average is $3.65 and its 200 day simple moving average is $2.88.

Xunlei (NASDAQ:XNET) last released its quarterly earnings results on Wednesday, August 14th. The software maker reported ($0.03) EPS for the quarter. The firm had revenue of $47.65 million during the quarter. Xunlei had a negative net margin of 33.31% and a negative return on equity of 16.81%.

A number of large investors have recently added to or reduced their stakes in the business. Toroso Investments LLC boosted its position in Xunlei by 44.7% in the second quarter. Toroso Investments LLC now owns 399,122 shares of the software maker’s stock valued at $1,046,000 after buying an additional 123,234 shares in the last quarter. CSat Investment Advisory L.P. boosted its position in Xunlei by 44.7% in the second quarter. CSat Investment Advisory L.P. now owns 399,122 shares of the software maker’s stock valued at $1,046,000 after buying an additional 123,234 shares in the last quarter. Jane Street Group LLC boosted its position in Xunlei by 111.3% in the second quarter. Jane Street Group LLC now owns 26,124 shares of the software maker’s stock valued at $68,000 after buying an additional 13,762 shares in the last quarter. Morgan Stanley boosted its position in Xunlei by 80.2% in the second quarter. Morgan Stanley now owns 3,137,676 shares of the software maker’s stock valued at $8,220,000 after buying an additional 1,396,731 shares in the last quarter. Finally, BlackRock Inc. boosted its position in Xunlei by 8.3% in the second quarter. BlackRock Inc. now owns 325,320 shares of the software maker’s stock valued at $853,000 after buying an additional 24,955 shares in the last quarter. Hedge funds and other institutional investors own 10.91% of the company’s stock.

About Xunlei (NASDAQ:XNET)

Xunlei Limited, a cloud-based acceleration technology company, operates an Internet platform for digital media content in the People's Republic of China. The company's platform is based on cloud computing that enables users to access, manage, and consume digital media content. It offers Xunlei Accelerator, which enables users to accelerate digital transmission over the Internet; and cloud acceleration subscription services that offer users premium services through various products, such as Green Channel and Offline Accelerator.

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