Xunlei (NASDAQ:XNET) Shares Cross Above Fifty Day Moving Average – What’s Next?

Xunlei Limited (NASDAQ:XNET)’s stock price crossed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $2.02 and traded as high as $2.10. Xunlei shares last traded at $2.05, with a volume of 97,526 shares traded.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of Xunlei from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, December 17th.

Xunlei Stock Down 2.4 %

The firm has a market cap of $129.95 million, a PE ratio of 8.91 and a beta of 1.05. 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 business has a 50-day moving average price of $2.02 and a two-hundred day moving average price of $1.83.

Institutional Investors Weigh In On Xunlei

Large investors have recently bought and sold shares of the stock. Rhumbline Advisers increased its holdings in Xunlei by 42.8% in the second quarter. Rhumbline Advisers now owns 24,097 shares of the software maker’s stock valued at $40,000 after buying an additional 7,220 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of Xunlei in the 3rd quarter valued at about $109,000. Acadian Asset Management LLC raised its position in shares of Xunlei by 20.9% during the 2nd quarter. Acadian Asset Management LLC now owns 176,254 shares of the software maker’s stock worth $294,000 after acquiring an additional 30,515 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in shares of 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 acquiring an additional 10,276 shares in the last quarter. Hedge funds and other institutional investors 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.