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

Xunlei Limited (NASDAQ:XNET - Get Free Report) saw a significant decline in short interest in April. As of April 15th, there was short interest totalling 758,700 shares, a decline of 35.7% from the March 31st total of 1,180,000 shares. Based on an average daily volume of 1,400,000 shares, the days-to-cover ratio is presently 0.5 days. Currently, 1.3% of the shares of the company are sold short.

Xunlei Price Performance

Shares of NASDAQ XNET traded up $0.31 during mid-day trading on Friday, reaching $4.51. 219,264 shares of the company were exchanged, compared to its average volume of 447,581. The company's 50 day moving average price is $4.10 and its 200 day moving average price is $2.90. Xunlei has a 52 week low of $1.46 and a 52 week high of $5.52. 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 stock has a market capitalization of $277.23 million, a PE ratio of 19.61 and a beta of 0.83.

Xunlei (NASDAQ:XNET - Get Free Report) last announced its quarterly earnings data on Thursday, March 13th. The software maker reported $0.17 earnings per share for the quarter. Xunlei had a net margin of 4.65% and a return on equity of 4.47%. The firm had revenue of $84.30 million during the quarter.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Xunlei from a "hold" rating to a "buy" rating in a research report on Friday, April 18th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Russell Investments Group Ltd. bought a new stake in shares of Xunlei in the fourth quarter worth about $52,000. Sei Investments Co. purchased a new position in Xunlei during the fourth quarter valued at $53,000. Two Sigma Securities LLC purchased a new position in Xunlei during the 4th quarter valued at about $36,000. Finally, Marshall Wace LLP bought a new stake in shares of Xunlei in the 4th quarter worth approximately $84,000. Institutional investors own 5.07% of the company's stock.

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.