Xunlei’s Quiet Period Set To End on August 4th (NASDAQ:XNET)
Xunlei’s (NASDAQ:XNET) quiet period is set to end on Monday, August 4th. Xunlei had issued 7,315,000 shares in its IPO on June 24th, Analyst Ratings News reports. The total size of the offering was $87,780,000 based on an initial share price of $12.00. During Xunlei’s quiet period, underwriters and any insiders involved in the IPO are prevented from issuing any research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the end of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.
XNET has been the subject of a number of recent research reports. Analysts at JPMorgan Chase & Co. initiated coverage on shares of Xunlei in a research note on Thursday. They set an “overweight” rating and a $16.00 price target on the stock. Analysts at Oppenheimer initiated coverage on shares of Xunlei in a research note on Monday, July 21st. They set a “market perform” rating on the stock.
Xunlei (NASDAQ:XNET) traded up 5.66% on Friday, hitting $12.69. 180,318 shares of the company’s stock traded hands. Xunlei has a 1-year low of $12.00 and a 1-year high of $16.18. The stock has a 50-day moving average of $13.61 and a 200-day moving average of $13.61. The company’s market cap is $92.8 million.
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