Stock Buzzer: Xunlei Ltd Hit 52 Week Low

Stock Buzzer: Xunlei Ltd Hit 52 Week Low

The stock of Xunlei Ltd (NASDAQ:XNET) hit a new 52-week low and has $4.27 target or 14.00% below today’s $4.96 share price. The 7 months bearish chart indicates high risk for the $320.72 million company. The 1-year low was reported on Oct, 13 by Barchart.com. If the $4.27 price target is reached, the company will be worth $44.90M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 52,577 shares traded hands. Xunlei Ltd (NASDAQ:XNET) has declined 15.53% since March 10, 2016 and is downtrending. It has underperformed by 23.05% the S&P500.

Analysts await Xunlei Ltd (NASDAQ:XNET) to report earnings on November, 16.

According to Zacks Investment Research, “Xunlei Limited operates an internet platform in China based on cloud computing. It provides users with quick and easy access to digital media content through its core products and services, Xunlei Accelerator and the cloud acceleration subscription services. The Company offers services such as cloud-based subscription services, online advertising, online games, software licensing, and content distribution. Xunlei Limited is based in Shenzhen, the People’s Republic of China.”

More important recent Xunlei Ltd (NASDAQ:XNET) news were published by: Renaissancecapital.com which released: “Chinese Internet company Xunlei Limited sets IPO pricing terms” on July 04, 2011, also Streetinsider.com published article titled: “Chinese Internet Company Xunlei Ltd. (XNET) Files $100M IPO”, Quotes.Wsj.com published: “DOW JONES, A NEWS CORP COMPANY” on July 22, 2011. More interesting news about Xunlei Ltd (NASDAQ:XNET) was released by: Seekingalpha.com and their article: “Xunlei: Gauging The Odds Of A Going Private Deal (XNET)” with publication date: May 29, 2015.

XNET Company Profile

Xunlei Limited (Xunlei), incorporated on February 3, 2005, is a cloud acceleration technology company. The Firm 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 services and products 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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