Xunlei (NASDAQ:XNET) Research Coverage Started at StockNews.com

StockNews.com initiated coverage on shares of Xunlei (NASDAQ:XNET – Get Rating) in a report published on Thursday. The firm issued a buy rating on the software maker’s stock.

Xunlei Stock Up 2.5 %

XNET stock opened at $2.02 on Thursday. Xunlei has a 52 week low of $0.85 and a 52 week high of $2.23. The company has a market capitalization of $134.33 million, a price-to-earnings ratio of 7.21 and a beta of 1.25. The firm’s 50-day moving average is $2.00 and its two-hundred day moving average is $1.73. The company has a current ratio of 2.84, a quick ratio of 2.84 and a debt-to-equity ratio of 0.08.

Institutional Trading of Xunlei

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Xunlei by 60.6% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 271,871 shares of the software maker’s stock worth $495,000 after buying an additional 102,595 shares in the last quarter. State Street Corp raised its holdings in shares of Xunlei by 16.9% in the 1st quarter. State Street Corp now owns 67,574 shares of the software maker’s stock worth $119,000 after purchasing an additional 9,761 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of Xunlei by 195.7% in the 3rd quarter. Envestnet Asset Management Inc. now owns 55,415 shares of the software maker’s stock worth $77,000 after purchasing an additional 36,674 shares in the last quarter. Jane Street Group LLC bought a new stake in shares of Xunlei in the 3rd quarter worth approximately $73,000. Finally, UBS Group AG raised its holdings in shares of Xunlei by 2,164.5% in the 3rd quarter. UBS Group AG now owns 52,173 shares of the software maker’s stock worth $73,000 after purchasing an additional 49,869 shares in the last quarter. 6.28% of the stock is currently owned by institutional investors.

Xunlei Company Profile

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Xunlei Ltd. is a holding company, which provides shared cloud computing and blockchain technology services. It provides a wide range of products and services across cloud acceleration, blockchain, shared cloud computing and digital entertainment to deliver an efficient internet experience. The company was founded by Sheng Long Zou and Hao Cheng in December 2002 and is headquartered in Shenzhen, China.