StockNews.com Initiates Coverage on Xunlei (NASDAQ:XNET)

Investment analysts at StockNews.com assumed coverage on shares of Xunlei (NASDAQ:XNET) in a research note issued on Tuesday. The brokerage set a “buy” rating on the software maker’s stock.

Xunlei Trading Down 1.0 %

Shares of Xunlei stock opened at $1.48 on Tuesday. Xunlei has a 12-month low of $1.28 and a 12-month high of $2.09. The company has a market cap of $95.77 million, a price-to-earnings ratio of 6.44 and a beta of 1.23. The company has a current ratio of 2.56, a quick ratio of 2.54 and a debt-to-equity ratio of 0.05. The company’s 50-day moving average price is $1.50 and its 200-day moving average price is $1.53.

Xunlei (NASDAQ:XNET) last announced its earnings results on Thursday, March 14th. The software maker reported $0.06 earnings per share for the quarter. The business had revenue of $77.14 million for the quarter. Xunlei had a net margin of 3.90% and a return on equity of 4.48%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Virtu Financial LLC bought a new stake in Xunlei in the fourth quarter valued at $27,000. Millennium Management LLC purchased a new position in Xunlei during the second quarter valued at $35,000. QRG Capital Management Inc. purchased a new position in Xunlei during the third quarter valued at $36,000. Mercer Global Advisors Inc. ADV purchased a new position in Xunlei during the third quarter valued at $36,000. Finally, JPMorgan Chase & Co. lifted its position in Xunlei by 858.2% during the first quarter. JPMorgan Chase & Co. now owns 25,439 shares of the software maker’s stock valued at $45,000 after buying an additional 22,784 shares during the period. Institutional investors own 5.07% of the company’s stock.

About Xunlei

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 various products, such as Green Channel.