Xunlei (NASDAQ:XNET) Coverage Initiated at StockNews.com

StockNews.com began coverage on shares of Xunlei (NASDAQ:XNET) in a report published on Wednesday morning. The firm issued a buy rating on the software maker’s stock.

Xunlei Price Performance

Shares of NASDAQ:XNET opened at $1.57 on Wednesday. Xunlei has a 1-year low of $1.28 and a 1-year high of $2.09. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.56 and a quick ratio of 2.54. The business has a fifty day moving average price of $1.50 and a 200-day moving average price of $1.52. The company has a market capitalization of $101.59 million, a PE ratio of 6.83 and a beta of 1.23.

Xunlei (NASDAQ:XNET) last issued its quarterly earnings results on Thursday, March 14th. The software maker reported $0.06 earnings per share for the quarter. Xunlei had a return on equity of 4.48% and a net margin of 3.90%. The firm had revenue of $77.14 million during the quarter.

Institutional Investors Weigh In On Xunlei

Several institutional investors have recently modified their holdings of XNET. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Xunlei by 25.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 261,275 shares of the software maker’s stock worth $423,000 after buying an additional 53,160 shares during the period. Acadian Asset Management LLC raised its stake in shares of Xunlei by 30.4% in the third quarter. Acadian Asset Management LLC now owns 145,739 shares of the software maker’s stock worth $233,000 after buying an additional 33,993 shares during the period. Finally, QRG Capital Management Inc. bought a new position in shares of Xunlei in the third quarter worth about $36,000. 5.07% of the stock is owned by hedge funds and other institutional investors.

Xunlei Company Profile

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 various products, such as Green Channel.