Xunlei (NASDAQ:XNET) Sees Unusually-High Trading Volume – Time to Buy?

Xunlei Limited (NASDAQ:XNET) shares saw strong trading volume on Monday . 146,689 shares traded hands during mid-day 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.

Analyst Ratings Changes

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

Xunlei Trading Down 1.4%

The company has a fifty day moving average of $7.29 and a 200-day moving average of $7.09. 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 company has a market capitalization of $487.25 million, a price-to-earnings ratio of 0.39 and a beta of 0.99.

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

Hedge Funds Weigh In On Xunlei

Institutional investors have recently bought and sold shares of the company. NewEdge Advisors LLC raised its position in shares of Xunlei by 9,106.5% during the 1st quarter. NewEdge Advisors LLC now owns 18,413 shares of the software maker’s stock valued at $83,000 after buying an additional 18,213 shares during the period. QRG Capital Management Inc. purchased a new stake in Xunlei in the second quarter valued at $56,000. Connor Clark & Lunn Investment Management Ltd. raised its position in Xunlei by 314.7% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 196,328 shares of the software maker’s stock valued at $795,000 after purchasing an additional 148,982 shares during the period. XTX Topco Ltd lifted its stake in shares of Xunlei by 244.1% in the 2nd quarter. XTX Topco Ltd now owns 75,032 shares of the software maker’s stock valued at $304,000 after purchasing an additional 53,226 shares during the last quarter. Finally, Walleye Capital LLC purchased a new position in shares of Xunlei during the 2nd quarter worth $51,000. 5.07% of the stock is owned by hedge funds and other institutional investors.

About Xunlei

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.