Xunlei Limited (NASDAQ:XNET) was the target of a large drop in short interest in the month of October. As of October 30th, there was short interest totalling 993,800 shares, a drop of 18.5% from the October 15th total of 1,220,000 shares. Based on an average daily trading volume, of 394,200 shares, the days-to-cover ratio is presently 2.5 days. Currently, 1.5% of the company’s stock are short sold.

A number of hedge funds have recently bought and sold shares of the stock. Morgan Stanley increased its holdings in shares of Xunlei by 4.2% in the third quarter. Morgan Stanley now owns 2,879,778 shares of the software maker’s stock valued at $9,907,000 after purchasing an additional 116,665 shares during the period. Ovata Capital Management Ltd increased its holdings in shares of Xunlei by 63.5% in the third quarter. Ovata Capital Management Ltd now owns 817,566 shares of the software maker’s stock valued at $2,812,000 after purchasing an additional 317,466 shares during the period. Bank of America Corp DE increased its holdings in shares of Xunlei by 163.5% in the second quarter. Bank of America Corp DE now owns 484,512 shares of the software maker’s stock valued at $1,686,000 after purchasing an additional 300,657 shares during the period. KEYWISE CAPITAL MANAGEMENT HK Ltd acquired a new position in shares of Xunlei in the third quarter valued at approximately $1,273,000. Finally, State Street Corp increased its holdings in shares of Xunlei by 417.5% in the first quarter. State Street Corp now owns 333,048 shares of the software maker’s stock valued at $1,099,000 after purchasing an additional 268,687 shares during the period. Hedge funds and other institutional investors own 24.09% of the company’s stock.

Shares of XNET opened at $2.75 on Friday. The stock has a 50-day simple moving average of $2.90 and a 200-day simple moving average of $3.43. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.10 and a current ratio of 3.12. The stock has a market capitalization of $186.90 million, a PE ratio of -3.13 and a beta of 1.68. Xunlei has a 1 year low of $2.38 and a 1 year high of $5.94.

Xunlei (NASDAQ:XNET) last posted its earnings results on Tuesday, August 25th. The software maker reported ($0.17) earnings per share for the quarter. The business had revenue of $44.32 million for the quarter. Xunlei had a negative return on equity of 20.37% and a negative net margin of 32.35%.

Separately, BidaskClub cut Xunlei from a “buy” rating to a “hold” rating in a research note on Friday, August 28th.

About Xunlei

Xunlei Limited operates an Internet platform for digital media content in the People's Republic of China. The company's platform is based on cloud technology that enables users to access, manage, and consume digital media content. It 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 cloud acceleration subscription services that offer users premium services through various products, such as Green Channel.

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