Xunlei Limited (NASDAQ:XNET – Get Rating) was the recipient of a significant drop in short interest in November. As of November 30th, there was short interest totalling 258,800 shares, a drop of 43.5% from the November 15th total of 458,200 shares. Approximately 0.4% of the company’s stock are short sold. Based on an average daily volume of 173,100 shares, the short-interest ratio is currently 1.5 days.
Institutional Investors Weigh In On Xunlei
Several institutional investors have recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Xunlei by 25.6% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 169,276 shares of the software maker’s stock valued at $235,000 after acquiring an additional 34,513 shares in the last quarter. State Street Corp boosted its stake in Xunlei by 16.9% in the first quarter. State Street Corp now owns 67,574 shares of the software maker’s stock valued at $119,000 after acquiring an additional 9,761 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in Xunlei by 195.7% in the third quarter. Envestnet Asset Management Inc. now owns 55,415 shares of the software maker’s stock valued at $77,000 after acquiring an additional 36,674 shares in the last quarter. Jane Street Group LLC acquired a new stake in Xunlei in the third quarter valued at approximately $73,000. Finally, UBS Group AG boosted its stake in Xunlei by 2,164.5% in the third quarter. UBS Group AG now owns 52,173 shares of the software maker’s stock valued at $73,000 after acquiring an additional 49,869 shares in the last quarter. 7.40% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
XNET has been the topic of a number of recent research reports. StockNews.com initiated coverage on shares of Xunlei in a research note on Friday. They set a “buy” rating on the stock. TheStreet upgraded shares of Xunlei from a “d+” rating to a “c-” rating in a research note on Tuesday, November 15th.
Xunlei Price Performance
Shares of XNET opened at $1.97 on Tuesday. The company has a market cap of $131.00 million, a price-to-earnings ratio of 7.04 and a beta of 1.24. Xunlei has a twelve month low of $0.85 and a twelve month high of $2.31. The company has a quick ratio of 2.84, a current ratio of 2.84 and a debt-to-equity ratio of 0.08. The company has a 50 day moving average of $1.47 and a two-hundred day moving average of $1.50.
Xunlei Company Profile
Xunlei Limited, together with its subsidiaries, operates an Internet platform for digital media content in the People’s Republic of China. The company’s platform is based on cloud technology that enables users to access, store, manage, and consume digital media content. It 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 cloud acceleration subscription services that offer users premium services through various products, such as Green Channel.
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Read More: Xunlei Limited (NASDAQ:XNET) Short Interest Down 43.5% in November