Xunlei (NASDAQ:XNET) Stock Rating Lowered by BidaskClub

BidaskClub downgraded shares of Xunlei (NASDAQ:XNET) from a buy rating to a hold rating in a research report report published on Wednesday, December 20th.

Several other research firms have also recently issued reports on XNET. ValuEngine cut Xunlei from a hold rating to a sell rating in a research note on Friday, December 1st. TheStreet raised Xunlei from a d+ rating to a c- rating in a research note on Monday, November 13th.

Xunlei (NASDAQ:XNET) traded down $6.27 on Wednesday, hitting $16.63. The stock had a trading volume of 26,660,000 shares, compared to its average volume of 11,140,000. Xunlei has a 52-week low of $3.11 and a 52-week high of $27.00. The stock has a market capitalization of $1,110.00, a PE ratio of -22.47 and a beta of 1.45.

Several institutional investors and hedge funds have recently bought and sold shares of XNET. Dimensional Fund Advisors LP increased its stake in shares of Xunlei by 92.2% during the third quarter. Dimensional Fund Advisors LP now owns 52,378 shares of the software maker’s stock valued at $223,000 after buying an additional 25,130 shares during the period. Susquehanna International Group LLP grew its stake in Xunlei by 234.8% in the third quarter. Susquehanna International Group LLP now owns 60,218 shares of the software maker’s stock worth $256,000 after purchasing an additional 42,230 shares during the period. JPMorgan Chase & Co. purchased a new stake in Xunlei in the third quarter worth $300,000. Finally, State Street Corp grew its stake in Xunlei by 8.6% in the second quarter. State Street Corp now owns 99,693 shares of the software maker’s stock worth $323,000 after purchasing an additional 7,880 shares during the period. 11.45% of the stock is currently owned by hedge funds and other institutional investors.

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About Xunlei

Xunlei Limited (Xunlei) is a cloud-based acceleration technology company. The Company operates an Internet platform in China based on cloud computing to enable users to access, manage and consume digital media content. The Company’s segment is the operation of its online media platform. The Company’s products and services include Xunlei Accelerator, which enables users to accelerate digital transmission over the Internet, and cloud acceleration subscription services, which offer user services for speed and reliability.

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