BidaskClub Downgrades Xunlei (XNET) to Strong Sell

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BidaskClub lowered shares of Xunlei (NASDAQ:XNET) from a sell rating to a strong sell rating in a report issued on Tuesday.

Separately, ValuEngine downgraded shares of Xunlei from a buy rating to a hold rating in a research note on Wednesday, October 24th.

Xunlei stock opened at $4.14 on Tuesday. Xunlei has a twelve month low of $4.10 and a twelve month high of $24.99.

Xunlei (NASDAQ:XNET) last posted its quarterly earnings results on Wednesday, November 14th. The software maker reported ($0.24) earnings per share for the quarter. The business had revenue of $45.03 million during the quarter. Xunlei had a negative return on equity of 1.38% and a negative net margin of 1.10%.

Large investors have recently modified their holdings of the company. Tower Research Capital LLC TRC purchased a new position in shares of Xunlei during the second quarter valued at about $113,000. Stevens Capital Management LP purchased a new position in shares of Xunlei during the second quarter valued at about $114,000. Virtu Financial LLC purchased a new position in shares of Xunlei during the third quarter valued at about $124,000. Engineers Gate Manager LP purchased a new position in shares of Xunlei during the second quarter valued at about $172,000. Finally, WINTON GROUP Ltd purchased a new position in shares of Xunlei during the third quarter valued at about $183,000. 20.68% of the stock is owned by hedge funds and other institutional investors.

Xunlei Company Profile

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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