5 Chinese Stocks at Risk as Orders Drop

3. Dingdong (Cayman) Limited (NYSE:DDL)

Number of Hedge Fund Holders: 4  

Dingdong (Cayman) Limited (NYSE:DDL) is an e-commerce firm based in China. On August 11, the firm posted earnings for the second quarter of 2022, reporting losses per share $0.01, beating market estimates by $0.36. The revenue over the period was $990 million, up more than 37% compared to the revenue over the same period last year and beating market estimates by $20 million. The firm is backed by Japanese multinational conglomerate SoftBank. The firm was founded in 2017 and employs over 4,000 people. The firm is feeling the heat of an economic slowdown in the US along with other Chinese firms. 

In mid-May, JPMorgan analyst Andre Chang upgraded Dingdong (Cayman) Limited (NYSE:DDL) stock to Overweight from Underweight and increased the price target to $7 from $2.5, noting that uncertainties in the China regulatory sector were abating. 

Among the hedge funds being tracked by Insider Monkey, New York-based investment firm Coatue Management is a leading shareholder in Dingdong (Cayman) Limited (NYSE:DDL) with 7 million shares worth more than $38 million.