Xunlei Limited (NASDAQ:XNET – Get Free Report) saw a large drop in short interest during the month of July. As of July 15th, there was short interest totalling 84,800 shares, a drop of 33.9% from the June 30th total of 128,200 shares. Based on an average daily trading volume, of 181,700 shares, the days-to-cover ratio is currently 0.5 days. Currently, 0.1% of the shares of the company are sold short.
Institutional Trading of Xunlei
A number of hedge funds and other institutional investors have recently made changes to their positions in XNET. Connor Clark & Lunn Investment Management Ltd. grew its position in Xunlei by 60.6% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 271,871 shares of the software maker’s stock worth $495,000 after buying an additional 102,595 shares during the last quarter. Envestnet Asset Management Inc. grew its position in Xunlei by 105.6% in the first quarter. Envestnet Asset Management Inc. now owns 122,338 shares of the software maker’s stock worth $96,000 after buying an additional 62,834 shares during the last quarter. State Street Corp grew its position in Xunlei by 9.9% in the first quarter. State Street Corp now owns 87,201 shares of the software maker’s stock worth $160,000 after buying an additional 7,869 shares during the last quarter. Acadian Asset Management LLC acquired a new position in Xunlei in the first quarter worth approximately $114,000. Finally, Jane Street Group LLC purchased a new position in Xunlei in the 3rd quarter worth about $73,000. 5.38% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Separately, StockNews.com started coverage on Xunlei in a report on Thursday, May 18th. They issued a “buy” rating on the stock.
Xunlei Stock Up 2.1 %
Shares of Xunlei stock opened at $1.99 on Thursday. The business’s fifty day moving average price is $1.77 and its two-hundred day moving average price is $1.83. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.54 and a quick ratio of 2.53. The company has a market capitalization of $128.85 million, a P/E ratio of 7.80 and a beta of 1.36. Xunlei has a 1-year low of $0.85 and a 1-year high of $2.23.
Xunlei (NASDAQ:XNET – Get Free Report) last released its quarterly earnings results on Tuesday, May 16th. The software maker reported $0.02 EPS for the quarter. The company had revenue of $98.91 million for the quarter. Xunlei had a net margin of 4.73% and a return on equity of 5.55%.
Xunlei Company Profile
Xunlei Limited, together with its subsidiaries, operates an Internet platform for digital media content in the People’s Republic of China. Its platform is based on cloud technology that enables users to access, store, manage, and consume digital media content. The company offers Xunlei Accelerator, which enables users to accelerate digital transmission over the internet; mobile acceleration plug-in, which provides mobile device users with benefits of download speed acceleration and download success rate improvements; and subscription services that offer users premium services through various products, such as Green Channel.