Xunlei (XNET) Shares Up 6.2%

Xunlei Ltd (NASDAQ:XNET)’s share price rose 6.2% on Wednesday . The stock traded as high as $14.05 and last traded at $13.10. Approximately 7,985,766 shares were traded during mid-day trading, an increase of 252% from the average daily volume of 2,267,531 shares. The stock had previously closed at $12.33.

XNET has been the topic of a number of recent research reports. BidaskClub lowered shares of Xunlei from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 2nd. TheStreet raised shares of Xunlei from a “d+” rating to a “c-” rating in a research report on Monday, November 13th. Finally, ValuEngine lowered shares of Xunlei from a “hold” rating to a “sell” rating in a research report on Friday, December 1st.

A number of large investors have recently added to or reduced their stakes in XNET. JPMorgan Chase & Co. bought a new position in Xunlei during the third quarter worth about $300,000. Susquehanna International Group LLP increased 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 worth $256,000 after acquiring an additional 42,230 shares during the period. Dimensional Fund Advisors LP increased its position in Xunlei by 92.2% during 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. Finally, State Street Corp increased 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 worth $323,000 after acquiring an additional 7,880 shares during the period. 11.45% of the stock is currently owned by institutional investors and hedge funds.

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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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