Xunlei (NASDAQ:XNET) Hits New 52-Week High - Here's What Happened

Key Points

• Xunlei Limited shares reached a new 52-week high of $8.43, closing at $8.32 with a volume of over 5.5 million shares traded.
• Wall Street analysts upgraded Xunlei from a "hold" to a "buy" rating, indicating positive outlook and potential growth for the company.
• Xunlei reported impressive quarterly earnings with an EPS of $0.12, achieving a net margin of 202.62% and a revenue of $103.54 million.

Shares of Xunlei Limited (NASDAQ:XNET - Get Free Report) reached a new 52-week high on Monday . The stock traded as high as $8.43 and last traded at $8.32, with a volume of 5554706 shares. The stock had previously closed at $6.39.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded shares of Xunlei from a "hold" rating to a "buy" rating in a report on Saturday.

Xunlei Price Performance

The company's 50-day moving average is $4.73 and its two-hundred day moving average is $4.40. The firm has a market cap of $549.90 million, a P/E ratio of 0.77 and a beta of 0.88. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.60 and a quick ratio of 2.60.

Xunlei (NASDAQ:XNET - Get Free Report) last announced its quarterly earnings results on Thursday, August 14th. The software maker reported $0.12 EPS for the quarter. Xunlei had a return on equity of 7.00% and a net margin of 202.62%. The company had revenue of $103.54 million during the quarter.

Hedge Funds Weigh In On Xunlei

A number of large investors have recently modified their holdings of the company. Two Sigma Securities LLC bought a new stake in Xunlei in the fourth quarter valued at approximately $36,000. Walleye Capital LLC purchased a new stake in Xunlei during the 2nd quarter valued at $51,000. Russell Investments Group Ltd. bought a new stake in Xunlei in the 4th quarter worth $52,000. QRG Capital Management Inc. purchased a new position in shares of Xunlei in the second quarter valued at about $56,000. Finally, NewEdge Advisors LLC raised its stake in shares of Xunlei by 9,106.5% during the first quarter. NewEdge Advisors LLC now owns 18,413 shares of the software maker's stock valued at $83,000 after acquiring an additional 18,213 shares during the last quarter. 5.07% of the stock is currently owned by institutional investors.

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.

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