Xunlei (XNET) Rating Lowered to Hold at BidaskClub

Xunlei (NASDAQ:XNET) was downgraded by equities research analysts at BidaskClub from a “buy” rating to a “hold” rating in a report issued on Wednesday.

XNET has been the topic of a number of other research reports. TheStreet upgraded shares of Xunlei from a “d+” rating to a “c-” rating in a report on Monday, November 13th. ValuEngine lowered shares of Xunlei from a “hold” rating to a “sell” rating in a report on Friday, December 1st.

Shares of Xunlei (XNET) opened at $13.39 on Wednesday. Xunlei has a 1-year low of $3.11 and a 1-year high of $27.00.

Several hedge funds have recently added to or reduced their stakes in XNET. Dimensional Fund Advisors LP increased its stake in Xunlei by 92.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 52,378 shares of the software maker’s stock valued at $223,000 after buying an additional 25,130 shares during the period. Susquehanna International Group LLP increased its stake in Xunlei by 234.8% in the 3rd 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. acquired a new position in Xunlei in the 3rd quarter valued at approximately $300,000. Finally, State Street Corp increased its stake in Xunlei by 8.6% in the 2nd 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. Institutional investors and hedge funds own 11.45% 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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