Xunlei (XNET) Shares Up 9.1%
Xunlei Ltd (NASDAQ:XNET) shot up 9.1% during mid-day trading on Wednesday . The company traded as high as $14.02 and last traded at $13.97. 1,964,275 shares were traded during mid-day trading, a decline of 66% from the average session volume of 5,739,454 shares. The stock had previously closed at $12.80.
A number of research analysts recently commented on XNET shares. ValuEngine lowered shares of Xunlei from a “hold” rating to a “sell” rating in a research note on Friday, December 1st. BidaskClub lowered shares of Xunlei from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 2nd. Finally, TheStreet upgraded shares of Xunlei from a “d+” rating to a “c-” rating in a research note on Monday, November 13th.
The stock has a market capitalization of $918.94, a P/E ratio of -18.88 and a beta of 1.33.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Guggenheim Capital LLC acquired a new position in Xunlei in the 4th quarter valued at about $1,770,000. Primavera Capital Management Ltd acquired a new position in Xunlei in the 4th quarter valued at about $21,246,000. BlackRock Inc. grew its stake in Xunlei by 121.9% in the 4th quarter. BlackRock Inc. now owns 303,045 shares of the software maker’s stock valued at $4,664,000 after buying an additional 166,506 shares during the last quarter. Kovack Advisors Inc. acquired a new position in Xunlei in the 4th quarter valued at about $383,000. Finally, SG Americas Securities LLC acquired a new position in shares of Xunlei during the 4th quarter worth approximately $916,000. Institutional investors and hedge funds own 11.49% of the company’s stock.
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.
Receive News & Ratings for Xunlei Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Xunlei and related companies with MarketBeat.com's FREE daily email newsletter.