Short Interest in Xunlei Limited (NASDAQ:XNET) Drops By 50.6%

Xunlei Limited (NASDAQ:XNET - Get Free Report) saw a significant drop in short interest during the month of May. As of May 15th, there was short interest totalling 786,100 shares, a drop of 50.6% from the April 30th total of 1,590,000 shares. Approximately 1.3% of the company's stock are short sold. Based on an average daily trading volume, of 1,440,000 shares, the days-to-cover ratio is presently 0.5 days.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of XNET. Two Sigma Securities LLC purchased a new position in shares of Xunlei in the fourth quarter worth about $36,000. Russell Investments Group Ltd. purchased a new position in shares of Xunlei in the fourth quarter worth about $52,000. Sei Investments Co. acquired a new stake in Xunlei during the fourth quarter worth about $53,000. NewEdge Advisors LLC grew its holdings in Xunlei by 9,106.5% during the first quarter. NewEdge Advisors LLC now owns 18,413 shares of the software maker's stock worth $83,000 after acquiring an additional 18,213 shares during the period. Finally, Marshall Wace LLP acquired a new stake in Xunlei during the fourth quarter worth about $84,000. 5.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut Xunlei from a "buy" rating to a "hold" rating in a research note on Wednesday, May 7th.

Xunlei Stock Up 5.1%

Xunlei stock traded up $0.28 during midday trading on Tuesday, reaching $5.81. The company's stock had a trading volume of 648,959 shares, compared to its average volume of 494,539. The stock's 50-day simple moving average is $4.44 and its 200-day simple moving average is $3.39. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.92 and a quick ratio of 2.91. Xunlei has a 52-week low of $1.46 and a 52-week high of $7.19. The stock has a market capitalization of $362.38 million, a P/E ratio of 25.26 and a beta of 0.83.

Xunlei (NASDAQ:XNET - Get Free Report) last announced its quarterly earnings data on Thursday, May 15th. The software maker reported ($0.01) earnings per share (EPS) for the quarter. Xunlei had a return on equity of 4.47% and a net margin of 4.65%. The firm had revenue of $88.45 million during the quarter.

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 Green Channel and Fast Bird products.