Xunlei (NASDAQ:XNET) Downgraded to Hold at ValuEngine

ValuEngine downgraded shares of Xunlei (NASDAQ:XNET) from a buy rating to a hold rating in a report released on Wednesday, ValuEngine reports.

Separately, BidaskClub raised Xunlei from a strong sell rating to a sell rating in a research report on Tuesday, October 29th.

NASDAQ XNET traded down $0.78 during mid-day trading on Wednesday, hitting $5.91. The stock had a trading volume of 6,055,000 shares, compared to its average volume of 1,606,754. The company has a quick ratio of 3.28, a current ratio of 3.37 and a debt-to-equity ratio of 0.04. The firm’s 50 day moving average is $3.36 and its 200 day moving average is $2.83. Xunlei has a twelve month low of $1.87 and a twelve month high of $7.20.

Xunlei (NASDAQ:XNET) last posted its quarterly earnings results on Wednesday, August 14th. The software maker reported ($0.03) earnings per share (EPS) for the quarter. The company had revenue of $47.65 million during the quarter. Xunlei had a negative net margin of 33.31% and a negative return on equity of 16.81%.

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Several hedge funds and other institutional investors have recently modified their holdings of XNET. Morgan Stanley raised its position in shares of Xunlei by 80.2% during the 2nd quarter. Morgan Stanley now owns 3,137,676 shares of the software maker’s stock worth $8,220,000 after acquiring an additional 1,396,731 shares in the last quarter. JPMorgan Chase & Co. purchased a new position in shares of Xunlei in the 2nd quarter valued at approximately $407,000. Toroso Investments LLC grew its stake in shares of Xunlei by 44.7% in the 2nd quarter. Toroso Investments LLC now owns 399,122 shares of the software maker’s stock valued at $1,046,000 after purchasing an additional 123,234 shares during the last quarter. CSat Investment Advisory L.P. grew its stake in shares of Xunlei by 44.7% in the 2nd quarter. CSat Investment Advisory L.P. now owns 399,122 shares of the software maker’s stock valued at $1,046,000 after purchasing an additional 123,234 shares during the last quarter. Finally, BlackRock Inc. grew its stake in shares of Xunlei by 8.3% in the 2nd quarter. BlackRock Inc. now owns 325,320 shares of the software maker’s stock valued at $853,000 after purchasing an additional 24,955 shares during the last quarter. 10.90% of the stock is currently owned by institutional investors and hedge funds.

About Xunlei

Xunlei Limited, a cloud-based acceleration technology company, operates an Internet platform for digital media content in the People's Republic of China. The company's platform is based on cloud computing that enables users to access, manage, and consume digital media content. It offers Xunlei Accelerator, which enables users to accelerate digital transmission over the Internet; and cloud acceleration subscription services that offer users premium services through various products, such as Green Channel and Offline Accelerator.

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