Xunlei Limited (NASDAQ:XNET) Sees Large Decline in Short Interest

Xunlei Limited (NASDAQ:XNET) was the recipient of a significant decline in short interest during the month of January. As of January 30th, there was short interest totaling 1,505,375 shares, a decline of 15.5% from the January 15th total of 1,782,113 shares. Based on an average trading volume of 308,739 shares, the short-interest ratio is presently 4.9 days. Approximately 3.1% of the shares of the company are sold short. Approximately 3.1% of the shares of the company are sold short. Based on an average trading volume of 308,739 shares, the short-interest ratio is presently 4.9 days.

Xunlei Stock Down 0.2%

XNET stock opened at $5.79 on Monday. The company has a market cap of $363.55 million, a price-to-earnings ratio of 0.29 and a beta of 1.10. The company has a fifty day moving average price of $6.94 and a 200 day moving average price of $7.40. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.02 and a quick ratio of 2.01. Xunlei has a 12 month low of $2.64 and a 12 month high of $11.03.

Xunlei (NASDAQ:XNET) last posted its quarterly earnings data on Thursday, November 13th. The software maker reported $0.07 EPS for the quarter. Xunlei had a net margin of 315.06% and a return on equity of 2.75%. The company had revenue of $125.93 million for the quarter.

Institutional Trading of Xunlei

Several institutional investors and hedge funds have recently added to or reduced their stakes in XNET. Headlands Technologies LLC acquired a new stake in Xunlei during the 4th quarter worth approximately $214,000. State Street Corp raised its stake in shares of Xunlei by 3,445.2% during the fourth quarter. State Street Corp now owns 1,084,846 shares of the software maker’s stock worth $7,692,000 after purchasing an additional 1,054,246 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Xunlei by 0.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 487,101 shares of the software maker’s stock worth $3,455,000 after purchasing an additional 4,511 shares during the period. Clear Harbor Asset Management LLC grew its position in Xunlei by 33.4% in the 4th quarter. Clear Harbor Asset Management LLC now owns 25,588 shares of the software maker’s stock valued at $181,000 after buying an additional 6,400 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in Xunlei by 15.2% in the 4th quarter. Geode Capital Management LLC now owns 31,122 shares of the software maker’s stock valued at $221,000 after buying an additional 4,117 shares during the last quarter. 5.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings cut Xunlei from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, February 5th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, Xunlei currently has a consensus rating of “Hold”.

Xunlei Company Profile

Xunlei Limited (NASDAQ: XNET) is a China-based technology company specializing in content acceleration and cloud services. Its core offerings include the Xunlei download manager, which integrates peer-to-peer (P2P) and cloud-based acceleration technologies to enhance file delivery speeds for large downloads. The company has expanded its suite of products to encompass cloud storage solutions, media streaming applications and mobile browsing tools, all aimed at improving digital content distribution and user experience.

Founded in 2003 and headquartered in Shenzhen, Xunlei originally gained traction by addressing bandwidth constraints in China’s burgeoning internet market.