Xunlei (NASDAQ:XNET) was downgraded by investment analysts at ValuEngine from a “hold” rating to a “sell” rating in a note issued to investors on Friday.

A number of other brokerages have also commented on XNET. BidaskClub upgraded shares of Xunlei from a “sell” rating to a “hold” rating in a research note on Thursday, August 17th. TheStreet upgraded shares of Xunlei from a “d+” rating to a “c-” rating in a research note on Monday, November 13th.

Shares of Xunlei (NASDAQ XNET) traded up $1.78 during trading on Friday, reaching $15.43. 20,676,942 shares of the company’s stock traded hands, compared to its average volume of 1,674,595. Xunlei has a twelve month low of $3.11 and a twelve month high of $27.00.

Hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its stake in shares of Xunlei by 92.2% in the third quarter. Dimensional Fund Advisors LP now owns 52,378 shares of the software maker’s stock worth $223,000 after acquiring an additional 25,130 shares during the period. Susquehanna International Group LLP grew its position in Xunlei by 234.8% during the third quarter. Susquehanna International Group LLP now owns 60,218 shares of the software maker’s stock valued at $256,000 after buying an additional 42,230 shares during the period. JPMorgan Chase & Co. bought a new stake in Xunlei during the third quarter valued at approximately $300,000. Finally, State Street Corp grew its position in Xunlei by 8.6% during the second quarter. State Street Corp now owns 99,693 shares of the software maker’s stock valued at $323,000 after buying an additional 7,880 shares during the period. Hedge funds and other institutional investors own 11.38% of the company’s stock.

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About Xunlei

Xunlei Limited (Xunlei) is a cloud-based acceleration technology company. The Company operates an Internet platform in China based on cloud computing to enable users to access, manage and consume digital media content. The Company’s segment is the operation of its online media platform. The Company’s products and services include Xunlei Accelerator, which enables users to accelerate digital transmission over the Internet, and cloud acceleration subscription services, which offer user services for speed and reliability.

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