XNET stock soars to 52-week high, touches $4.7 amid surge

In a remarkable display of market momentum, Xunlei Ltd (XNET) stock has reached a 52-week high, climbing to a price level of $4.7. The company demonstrates strong financial health with a "GREAT" rating from InvestingPro, supported by a healthy current ratio of 2.92 and minimal debt exposure. This peak represents a significant milestone for the company, reflecting a period of robust trading that has caught the attention of investors and market analysts alike. The ascent to this high watermark is underscored by an impressive 1-year change data, with Xunlei Ltd’s stock value surging by 95.95%, alongside remarkable revenue growth of 99% in the last twelve months. Trading at an attractive P/E ratio of 9.2 and price-to-book of 0.55, InvestingPro analysis indicates the stock remains undervalued. Discover 10 more exclusive insights about XNET with InvestingPro’s comprehensive research report.

In other recent news, Xunlei Limited has announced a definitive agreement to acquire Shanghai Kuanghui Internet Technology Co., Ltd., the operator of Hupu, for RMB500 million. This acquisition, expected to be completed in the first half of 2025, aims to enhance Xunlei’s content ecosystem with Hupu’s premium sports content and dynamic community. In another development, Xunlei has appointed JPMorgan Chase (NYSE:JPM) Bank as the new depositary for its American Depositary Receipt (ADR) program, effective December 31, 2024. This transition involves an amended deposit agreement with J.P. Morgan, which requires no action from current ADR holders. The company has filed a registration statement for this change with the U.S. Securities and Exchange Commission. These developments reflect Xunlei’s strategic efforts to integrate new services and enhance its operational framework. Investors are advised to consider the forward-looking statements and associated risks detailed in Xunlei’s filings with the U.S. Securities and Exchange Commission.

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