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

Xunlei (NASDAQ:XNET) has recently received an upgrade from stock analysts at StockNews.com, moving its rating from "buy" to "strong-buy" in a research report published on Monday.

Xunlei Stock Performance

The stock of Xunlei opened at $2.11 on Monday. It boasts a market capitalization of $133.76 million with a price-to-earnings ratio of 9.17, indicating that it is perceived as relatively affordable compared to its earnings. The beta value of 1.05 suggests that the stock exhibits volatility similar to the broader market. Over the past year, Xunlei's stock has seen a low of $1.45 and a high of $2.41. Furthermore, it maintains a debt-to-equity ratio of just 0.04, demonstrating a strong financial structure with minimal debt levels. The quick and current ratios stand at 2.91 and 2.92 respectively, reflecting its solid liquidity position.

Moving Averages

Xunlei has a fifty-day moving average of $2.03 and a 200-day moving average of $1.84, providing insights into its recent performance trends. Investors often watch these moving averages to gauge the stock's momentum.

Institutional Holdings

In recent months, several hedge funds and institutional investors have adjusted their stakes in Xunlei. For instance, Rhumbline Advisers increased its holdings by 42.8% during the second quarter, acquiring an additional 7,220 shares, bringing its total to 24,097 shares valued at around $40,000. Similarly, Connor Clark & Lunn Investment Management Ltd. raised its position by 3.5% in the third quarter, now holding 300,092 shares valued at approximately $555,000 after adding 10,276 shares. Acadian Asset Management LLC also grew its stake by 20.9% in the second quarter, obtaining 176,254 shares valued at $294,000. Lastly, the Public Employees Retirement System of Ohio entered a new position in Xunlei worth $109,000 during the third quarter. Overall, 5.07% of Xunlei’s shares are currently owned by institutional investors.

About Xunlei

Xunlei Limited operates an internet platform focused on digital media content in China. The company's services rely on advanced cloud technology that allows users to access, store, manage, and consume a variety of digital media. Key offerings include the Xunlei Accelerator, which optimizes digital transmission speeds, and a mobile acceleration plugin that enhances download speeds and success rates for mobile users. Furthermore, Xunlei provides subscription services that enable users to access premium offerings through products like Green Channel and Fast Bird.

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