Recent insider trends for Xunlei Limited (NASDAQ:XNET) have caught the attention of investors. Insider data is useful because it can reveal what a company’s executives and largest shareholders feel about a stock. In this case, the data has some interesting things to say about how XNET might perform in the future.
Institutions own 02.42% of Xunlei Limited (XNET)’s shares. The total value of these holdings, in millions, is $110. Among active positions in the latest quarter, 20 holders increased their positions by a total of 614904 shares, 14 holders decreased the positions by a total of 740351 shares, and 7 holders held their positions. This works out to a net decrease in ownership of 125447 shares, and suggests that institutions are feeling bearish about the stock.
Among new and sold out positions, 6 holders initiated new positions by a total of 148956 shares and 6 holders exited their positions by a total of 646909 shares. This nets out to a decrease of 497953 shares and is another bearish sign for XNET.
Insider ownership increased by a total of 0 shares, which suggests that XNET’s key executives are feeling more optimistic about the outlook for the stock. The data from the past twelve months tells a similar story: ownership increased by a net of 0 shares.
Short interest, or the number of a stock’s tradable shares currently being shorted, is another metric investors use to get a pulse on sentiment. Xunlei Limited (NASDAQ:XNET)’s short interest is 2.54 million shares, or 9.68% of the float. This represents an increase of 190% in the number of shares being shorted compared to the previous reading, and implies that investors felt more pessimistic about the stock during the past two weeks.
Ownership trends and trading patterns can be useful tools for predicting a stock’s performance, but it’s also important to consider the technicals in order to form a more comprehensive view. A composite of 13 technical indicators that includes measures such as moving averages and momentum oscillators suggests that XNET is a Weak buy, which implies that XNET is expected to outperform the market based on prior trading patterns.
Institutional ownership trends suggest that the stock is cheap and the insider trading data indicates that insiders are bullish. Technical indicators (also) suggest that Xunlei Limited (NASDAQ:XNET) is undervalued.