Xunlei (NASDAQ:XNET) Share Price Crosses Below 200 Day Moving Average – What’s Next?

Xunlei Limited (NASDAQ:XNET) shares passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $5.59 and traded as low as $4.84. Xunlei shares last traded at $4.85, with a volume of 168,577 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings cut shares of Xunlei from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, Xunlei presently has a consensus rating of “Hold”.

Xunlei Stock Down 0.2%

The stock’s fifty day simple moving average is $5.23 and its two-hundred day simple moving average is $5.59. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.03 and a quick ratio of 2.03. The company has a market capitalization of $312.33 million, a price-to-earnings ratio of -3.95 and a beta of 1.14.

Xunlei (NASDAQ:XNET) last announced its quarterly earnings data on Thursday, August 13th. The software maker reported ($0.03) earnings per share for the quarter. Xunlei had a negative net margin of 15.25% and a positive return on equity of 0.62%. The business had revenue of $102.11 million for the quarter.

Xunlei announced that its Board of Directors has initiated a stock repurchase program on Friday, June 26th that authorizes the company to repurchase $0.00 in outstanding shares. This repurchase authorization authorizes the software maker to reacquire shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

Institutional Investors Weigh In On Xunlei

A number of hedge funds have recently added to or reduced their stakes in XNET. Renaissance Technologies LLC bought a new position in shares of Xunlei during the first quarter worth about $497,000. Public Employees Retirement System of Ohio bought a new stake in Xunlei in the 2nd quarter valued at about $251,000. Clear Harbor Asset Management LLC boosted its stake in Xunlei by 33.4% during the 4th quarter. Clear Harbor Asset Management LLC now owns 25,588 shares of the software maker’s stock valued at $181,000 after purchasing an additional 6,400 shares during the period. QRG Capital Management Inc. boosted its stake in Xunlei by 36.2% during the 1st quarter. QRG Capital Management Inc. now owns 17,200 shares of the software maker’s stock valued at $96,000 after purchasing an additional 4,575 shares during the period. Finally, Caitong International Asset Management Co. Ltd bought a new position in Xunlei in the 4th quarter worth about $38,000. 5.07% of the stock is currently owned by institutional investors.

About Xunlei

Xunlei Limited is a China-based internet technology company that provides cloud-based services for content delivery, storage and computing. Its platform uses distributed technology to help users accelerate downloads, access digital content and store or manage files across connected devices.

The company’s products and services have historically included the Xunlei download client, subscription-based cloud storage and acceleration services, and related advertising and membership offerings.