Xunlei (NASDAQ:XNET) was downgraded by research analysts at TheStreet from a “c-” rating to a “d” rating in a research note issued on Thursday.
A number of other research firms have also recently weighed in on XNET. BidaskClub cut Xunlei from a “buy” rating to a “hold” rating in a report on Friday, May 18th. ValuEngine raised Xunlei from a “hold” rating to a “buy” rating in a report on Wednesday, May 2nd.
Shares of NASDAQ XNET traded down $0.05 during trading on Thursday, reaching $8.60. The company had a trading volume of 405,055 shares, compared to its average volume of 1,863,563. Xunlei has a twelve month low of $4.05 and a twelve month high of $27.00.
Xunlei (NASDAQ:XNET) last released its quarterly earnings results on Tuesday, May 15th. The software maker reported $0.10 earnings per share for the quarter. Xunlei had a negative return on equity of 6.56% and a negative net margin of 9.27%. The company had revenue of $78.20 million during the quarter.
A number of institutional investors have recently added to or reduced their stakes in the stock. Krane Funds Advisors LLC acquired a new position in Xunlei in the second quarter valued at $5,313,000. BlackRock Inc. increased its stake in Xunlei by 46.8% in the second quarter. BlackRock Inc. now owns 484,305 shares of the software maker’s stock valued at $5,182,000 after purchasing an additional 154,333 shares during the last quarter. First Trust Advisors LP acquired a new position in Xunlei in the second quarter valued at $2,403,000. CSat Investment Advisory L.P. acquired a new position in Xunlei in the second quarter valued at $1,734,000. Finally, Amplify Investments LLC acquired a new position in Xunlei in the first quarter valued at $1,313,000. Hedge funds and other institutional investors own 22.37% of the company’s stock.
Xunlei Limited, a cloud-based acceleration technology company, operates an Internet platform for digital media content in the People's Republic of China. The company's platform is based on cloud computing that enables users to access, manage, and consume digital media content. It offers Xunlei Accelerator, which enables users to accelerate digital transmission over the Internet; and cloud acceleration subscription services that offer users premium services through various products, such as Green Channel and Offline Accelerator.
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