Xunlei (NASDAQ:XNET) Upgraded to Strong-Buy at StockNews.com

Xunlei (NASDAQ:XNET) was upgraded by research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Monday.

Xunlei Stock Up 5.8 %

Shares of XNET traded up $0.12 during midday trading on Monday, reaching $2.19. 380,878 shares of the stock were exchanged, compared to its average volume of 86,550. Xunlei has a 12-month low of $1.45 and a 12-month high of $2.41. The firm has a 50 day simple moving average of $2.02 and a 200-day simple moving average of $1.80. The company has a quick ratio of 2.91, a current ratio of 2.92 and a debt-to-equity ratio of 0.04. The company has a market cap of $138.82 million, a price-to-earnings ratio of 9.52 and a beta of 1.06.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Connor Clark & Lunn Investment Management Ltd. increased its position in Xunlei by 3.5% in 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 during the period. Acadian Asset Management LLC increased its position in Xunlei by 20.9% in the 2nd quarter. Acadian Asset Management LLC now owns 176,254 shares of the software maker’s stock worth $294,000 after buying an additional 30,515 shares during the period. Public Employees Retirement System of Ohio bought a new position in Xunlei in the 3rd quarter worth approximately $109,000. Finally, Rhumbline Advisers increased its position in Xunlei by 42.8% in the 2nd quarter. Rhumbline Advisers now owns 24,097 shares of the software maker’s stock worth $40,000 after buying an additional 7,220 shares during the period. 5.07% of the stock is owned by 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 Green Channel and Fast Bird products.