Xunlei Limited (NASDAQ:XNET) Sees Large Decrease in Short Interest

Xunlei Limited (NASDAQ:XNET) saw a significant decline in short interest in February. As of February 27th, there was short interest totaling 853,922 shares, a decline of 46.8% from the February 12th total of 1,606,434 shares. Currently, 1.7% of the shares of the stock are short sold. Based on an average daily trading volume, of 130,906 shares, the short-interest ratio is currently 6.5 days. Based on an average daily trading volume, of 130,906 shares, the short-interest ratio is currently 6.5 days. Currently, 1.7% of the shares of the stock are short sold.

Institutional Investors Weigh In On Xunlei

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in XNET. NewEdge Advisors LLC lifted its stake in shares of Xunlei by 9,106.5% in the 1st quarter. NewEdge Advisors LLC now owns 18,413 shares of the software maker’s stock valued at $83,000 after purchasing an additional 18,213 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Xunlei by 314.7% during the 2nd 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 last quarter. XTX Topco Ltd raised its holdings in Xunlei by 244.1% during the 2nd quarter. XTX Topco Ltd now owns 75,032 shares of the software maker’s stock valued at $304,000 after buying an additional 53,226 shares during the period. Walleye Capital LLC purchased a new stake in Xunlei during the 2nd quarter valued at $51,000. Finally, Marshall Wace LLP bought a new stake in Xunlei in the second quarter worth $219,000. 5.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings cut Xunlei from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, February 5th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has a consensus rating of “Hold”.

Xunlei Price Performance

XNET stock opened at $6.56 on Friday. Xunlei has a 52 week low of $2.83 and a 52 week high of $11.03. The firm has a market capitalization of $411.90 million, a P/E ratio of 0.33 and a beta of 1.06. The company has a fifty day simple moving average of $6.47 and a two-hundred day simple moving average of $7.40. The company has a quick ratio of 2.01, a current ratio of 2.02 and a debt-to-equity ratio of 0.03.

Xunlei (NASDAQ:XNET) last posted its earnings results on Thursday, March 12th. The software maker reported $0.02 earnings per share for the quarter. Xunlei had a net margin of 315.06% and a return on equity of 2.75%. The firm had revenue of $142.50 million for the quarter.

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.