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

StockNews.com started coverage on shares of Xunlei (NASDAQ:XNET) in a research note released on Monday morning. The brokerage issued a buy rating on the software maker’s stock.

Xunlei Stock Up 17.8 %

Shares of NASDAQ XNET opened at $2.18 on Monday. The company has a current ratio of 2.70, a quick ratio of 2.68 and a debt-to-equity ratio of 0.04. The company has a 50-day moving average of $1.63 and a 200 day moving average of $1.65. Xunlei has a 12-month low of $1.36 and a 12-month high of $2.22. The stock has a market cap of $140.34 million, a PE ratio of 8.07 and a beta of 1.14.

Xunlei (NASDAQ:XNET) last posted its quarterly earnings results 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 business had revenue of $79.33 million during the quarter.

Institutional Investors Weigh In On Xunlei

An institutional investor recently raised its position in Xunlei stock. Rhumbline Advisers grew its position in Xunlei Limited (NASDAQ:XNET) by 42.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,097 shares of the software maker’s stock after buying an additional 7,220 shares during the period. Rhumbline Advisers’ holdings in Xunlei were worth $40,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 5.07% of the company’s stock.

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.