Xunlei (NASDAQ:XNET) Sees Unusually-High Trading Volume – What’s Next?

Xunlei Limited (NASDAQ:XNET) saw unusually-high trading volume on Monday . Approximately 146,689 shares changed hands during trading, a decline of 27% from the previous session’s volume of 199,945 shares.The stock last traded at $8.04 and had previously closed at $7.60.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “buy (b-)” rating on shares of Xunlei in a research report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy”.

Xunlei Stock Up 8.9%

The company has a current ratio of 2.02, a quick ratio of 2.01 and a debt-to-equity ratio of 0.03. The stock has a market cap of $519.90 million, a P/E ratio of 0.42 and a beta of 0.99. The company’s 50 day moving average price is $7.31 and its two-hundred day moving average price is $7.03.

Xunlei (NASDAQ:XNET) last announced its earnings results on Thursday, November 13th. The software maker reported $0.07 earnings per share (EPS) for the quarter. Xunlei had a net margin of 315.06% and a return on equity of 2.75%. The company had revenue of $125.93 million during the quarter.

Hedge Funds Weigh In On Xunlei

Institutional investors have recently bought and sold shares of the stock. Walleye Capital LLC purchased a new position in Xunlei during the second quarter valued at $51,000. QRG Capital Management Inc. purchased a new stake in Xunlei in the second quarter worth about $56,000. NewEdge Advisors LLC raised its stake in shares of Xunlei by 9,106.5% in the first quarter. NewEdge Advisors LLC now owns 18,413 shares of the software maker’s stock worth $83,000 after buying an additional 18,213 shares during the period. Skandinaviska Enskilda Banken AB publ purchased a new position in shares of Xunlei during the 3rd quarter valued at about $112,000. Finally, Russell Investments Group Ltd. bought a new position in shares of Xunlei during the 3rd quarter valued at approximately $153,000. 5.07% of the stock is owned by institutional investors.

Xunlei Company Profile

Xunlei Limited (NASDAQ: XNET) is a China-based technology company specializing in content acceleration and cloud services. Its core offerings include the Xunlei download manager, which integrates peer-to-peer (P2P) and cloud-based acceleration technologies to enhance file delivery speeds for large downloads. The company has expanded its suite of products to encompass cloud storage solutions, media streaming applications and mobile browsing tools, all aimed at improving digital content distribution and user experience.

Founded in 2003 and headquartered in Shenzhen, Xunlei originally gained traction by addressing bandwidth constraints in China’s burgeoning internet market.