Xunlei (NASDAQ:XNET) Stock Passes Above 50 Day Moving Average – What’s Next?

Shares of Xunlei Limited (NASDAQ:XNET) passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $2.10 and traded as high as $2.74. Xunlei shares last traded at $2.60, with a volume of 211,200 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Xunlei from a “buy” rating to a “strong-buy” rating in a report on Thursday, January 23rd.

Xunlei Stock Down 4.6 %

The firm has a 50 day simple moving average of $2.12 and a two-hundred day simple moving average of $1.90. The stock has a market capitalization of $157.21 million, a P/E ratio of 10.78 and a beta of 1.05. The company has a quick ratio of 2.91, a current ratio of 2.92 and a debt-to-equity ratio of 0.04.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Xunlei stock. Public Employees Retirement System of Ohio acquired a new position in shares of Xunlei Limited (NASDAQ:XNET) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 59,158 shares of the software maker’s stock, valued at approximately $109,000. Public Employees Retirement System of Ohio owned approximately 0.09% of Xunlei at the end of the most recent reporting period. Institutional investors own 5.07% of the company’s stock.

About Xunlei

Xunlei Limited, together with its subsidiaries, operates an internet platform for digital media content in the People's Republic of China. Its platform is based on cloud technology that enables users to access, store, manage, and consume digital media content. The company offers Xunlei Accelerator, which enables users to accelerate digital transmission over the internet; mobile acceleration plug-in, which provides mobile device users with benefits of download speed acceleration and download success rate improvements; and subscription services that offer users premium services through Green Channel and Fast Bird products.