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

StockNews.com lowered shares of Xunlei (NASDAQ:XNET) from a strong-buy rating to a buy rating in a research note issued to investors on Friday.

Xunlei Stock Up 12.5 %

Shares of NASDAQ:XNET opened at $4.50 on Friday. Xunlei has a 52 week low of $1.45 and a 52 week high of $4.80. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.91 and a current ratio of 2.92. The company’s fifty day moving average is $2.75 and its 200-day moving average is $2.19. The company has a market capitalization of $285.26 million, a PE ratio of 19.57 and a beta of 1.06.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Connor Clark & Lunn Investment Management Ltd. lifted its position 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 worth $555,000 after buying an additional 10,276 shares in the last quarter. Two Sigma Securities LLC acquired a new position in Xunlei during the 4th quarter worth about $36,000. Russell Investments Group Ltd. acquired a new position in Xunlei during the 4th quarter worth about $52,000. Sei Investments Co. acquired a new position in Xunlei during the 4th quarter worth about $53,000. Finally, Marshall Wace LLP acquired a new position in Xunlei during the 4th quarter worth about $84,000. Institutional investors and hedge funds own 5.07% of the company’s stock.

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 Green Channel and Fast Bird products.