BidaskClub Lowers Xunlei (XNET) to Hold

BidaskClub lowered shares of Xunlei (NASDAQ:XNET) from a buy rating to a hold rating in a research note published on Friday, March 16th.

Separately, ValuEngine downgraded Xunlei from a hold rating to a sell rating in a research report on Friday, December 1st.

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Shares of NASDAQ XNET traded down $0.34 during trading on Friday, hitting $11.01. 694,749 shares of the company were exchanged, compared to its average volume of 1,464,282. Xunlei has a 12-month low of $3.11 and a 12-month high of $27.00.

Xunlei (NASDAQ:XNET) last issued its quarterly earnings data on Wednesday, March 14th. The software maker reported $0.04 earnings per share (EPS) for the quarter. The firm had revenue of $81.71 million for the quarter. Xunlei had a negative net margin of 18.00% and a negative return on equity of 9.99%.

Hedge funds and other institutional investors have recently modified their holdings of the business. PEAK6 Investments L.P. purchased a new stake in Xunlei in the fourth quarter valued at approximately $175,000. Dimensional Fund Advisors LP lifted its stake in Xunlei by 92.2% in 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 last quarter. Susquehanna International Group LLP lifted 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 valued at $256,000 after buying an additional 42,230 shares during the last quarter. JPMorgan Chase & Co. purchased a new stake in shares of Xunlei during the third quarter worth approximately $300,000. Finally, State Street Corp raised its stake in shares of Xunlei by 8.6% during 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 last quarter. Institutional investors own 19.88% of the company’s stock.

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Xunlei Company Profile

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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