Xunlei Limited (NASDAQ:XNET) Sees Large Decline in Short Interest

Xunlei Limited (NASDAQ:XNET - Get Free Report) was the target of a large decline in short interest in May. As of May 15th, there was short interest totalling 786,100 shares, a decline of 50.6% from the April 30th total of 1,590,000 shares. Based on an average daily volume of 1,440,000 shares, the days-to-cover ratio is currently 0.5 days. Currently, 1.3% of the shares of the stock are short sold.

Hedge Funds Weigh In On Xunlei

A number of large investors have recently made changes to their positions in XNET. Nomura Holdings Inc. purchased a new position in Xunlei during the first quarter valued at approximately $1,965,000. Invesco Ltd. purchased a new position in shares of Xunlei during the 1st quarter valued at $197,000. Marshall Wace LLP acquired a new position in shares of Xunlei in the fourth quarter worth $84,000. Russell Investments Group Ltd. increased its stake in shares of Xunlei by 21.2% in the first quarter. Russell Investments Group Ltd. now owns 29,636 shares of the software maker's stock worth $132,000 after acquiring an additional 5,190 shares during the last quarter. Finally, Sei Investments Co. purchased a new stake in shares of Xunlei during the fourth quarter worth $53,000. Institutional investors and hedge funds own 5.07% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered shares of Xunlei from a "buy" rating to a "hold" rating in a research report on Wednesday, May 7th.

Xunlei Trading Down 2.7%

Shares of Xunlei stock traded down $0.15 during trading on Monday, hitting $5.46. The stock had a trading volume of 399,799 shares, compared to its average volume of 491,664. The stock has a 50 day simple moving average of $4.40 and a 200 day simple moving average of $3.34. Xunlei has a 1 year low of $1.46 and a 1 year high of $7.19. The company has a quick ratio of 2.91, a current ratio of 2.92 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $340.55 million, a PE ratio of 23.85 and a beta of 0.83.

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

About Xunlei

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.