Xunlei (NASDAQ:XNET) Share Price Breaks Above Fifty Day Moving Average - What's Next?

Key Points

• Xunlei shares rose above their 50-day moving average, reaching $5.05 and last trading at $5.01, compared with a 50-day average of $4.96. However, the stock remained below its 200-day average of $5.45.
• Analyst sentiment remained cautious: Weiss Ratings upgraded Xunlei from “hold (c)” to “hold (c+),” while the stock’s sole analyst rating was Hold.
• Xunlei reported quarterly revenue of $102.11 million and a loss of $0.03 per share, alongside a negative net margin of 15.25%. Institutional investors owned 5.07% of the company, and several firms recently initiated or increased positions.

Shares of Xunlei Limited (NASDAQ:XNET - Get Free Report) passed above its fifty day moving average during trading on Friday. The stock has a fifty day moving average of $4.96 and traded as high as $5.05. Xunlei shares last traded at $5.01, with a volume of 212,382 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised Xunlei from a "hold (c)" rating to a "hold (c+)" rating in a report on Monday, September 28th. One investment analyst has rated the stock with a Hold rating. According to data from MarketBeat, Xunlei has an average rating of "Hold".

Xunlei Price Performance

The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.03. The stock's 50 day moving average price is $4.96 and its two-hundred day moving average price is $5.45. The stock has a market cap of $319.34 million, a price-to-earnings ratio of -4.04 and a beta of 1.05.

Xunlei (NASDAQ:XNET - Get Free Report) last posted its earnings results on Thursday, August 13th. The software maker reported ($0.03) earnings per share (EPS) for the quarter. The business had revenue of $102.11 million for the quarter. Xunlei had a negative net margin of 15.25% and a positive return on equity of 0.62%.

Xunlei announced that its Board of Directors has approved a share repurchase program on Friday, June 26th that authorizes the company to buy back $0.00 in outstanding shares. This repurchase authorization authorizes the software maker to purchase shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's management believes its shares are undervalued.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of XNET. Caitong International Asset Management Co. Ltd purchased a new stake in Xunlei in the 4th quarter worth approximately $38,000. QRG Capital Management Inc. grew its stake in shares of Xunlei by 36.2% during the 1st quarter. QRG Capital Management Inc. now owns 17,200 shares of the software maker's stock worth $96,000 after purchasing an additional 4,575 shares during the period. Public Employees Retirement System of Ohio purchased a new position in shares of Xunlei during the 2nd quarter valued at approximately $251,000. Finally, Renaissance Technologies LLC purchased a new position in shares of Xunlei during the 1st quarter valued at approximately $497,000. 5.07% of the stock is currently owned by hedge funds and other institutional investors.

About Xunlei

Xunlei Limited NASDAQ: XNET is a Chinese technology company that provides cloud-based products and services designed to help users access, store, manage and share digital content. Its primary consumer brand, Xunlei, offers download acceleration and related internet services through desktop and mobile applications.

The company also operates cloud services, including cloud storage and cloud acceleration products that use distributed computing and network resources to improve the delivery of digital content.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.