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

Xunlei Limited (NASDAQ:XNET) was the recipient of a large drop in short interest in the month of February. As of February 27th, there was short interest totaling 853,922 shares, a drop of 46.8% from the February 12th total of 1,606,434 shares. Based on an average daily volume of 130,906 shares, the short-interest ratio is presently 6.5 days. Approximately 1.7% of the company’s shares are sold short. Approximately 1.7% of the company’s shares are sold short. Based on an average daily volume of 130,906 shares, the short-interest ratio is presently 6.5 days.

Xunlei Trading Up 3.4%

NASDAQ:XNET opened at $6.04 on Thursday. The firm has a market capitalization of $379.25 million, a P/E ratio of 0.30 and a beta of 1.06. 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 one year low of $2.83 and a one year high of $11.03. The company’s 50-day simple moving average is $6.48 and its 200 day simple moving average is $7.41.

Institutional Trading of Xunlei

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd bought a new position in Xunlei during the 4th quarter valued at approximately $38,000. Susquehanna Fundamental Investments LLC bought a new stake in Xunlei in the fourth quarter worth $224,000. Schonfeld Strategic Advisors LLC grew its stake in shares of Xunlei by 4.6% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 52,889 shares of the software maker’s stock worth $375,000 after acquiring an additional 2,313 shares during the last quarter. Stonehill Capital Management LLC grew its stake in shares of Xunlei by 307.2% in the fourth quarter. Stonehill Capital Management LLC now owns 976,385 shares of the software maker’s stock worth $6,923,000 after acquiring an additional 736,583 shares during the last quarter. Finally, Public Employees Retirement System of Ohio increased its holdings in shares of Xunlei by 3.7% during the fourth quarter. Public Employees Retirement System of Ohio now owns 57,331 shares of the software maker’s stock valued at $406,000 after acquiring an additional 2,047 shares in the last quarter. Hedge funds and other institutional investors own 5.07% of the company’s stock.

Analyst Upgrades and Downgrades

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

About Xunlei

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.