In this article, we discuss the 5 Chinese stocks that are rebounding as the crackdown nears end. If you want to read about some more Chinese stocks on the upward trajectory, go directly to These 10 Chinese Stocks are Rebounding as Crackdown Nears End.
5. Lufax Holding Ltd (NYSE:LU)
Number of Hedge Fund Holders: 22
Increase in Share Price Over Past Month: 4.87%
Lufax Holding Ltd (NYSE:LU) provides tech-based finance services. The hedge fund sentiment around the stock is overwhelmingly positive. At the end of the fourth quarter of 2021, 22 hedge funds in the database of Insider Monkey held stakes worth $244 million in Lufax Holding Ltd (NYSE:LU), up from 14 the preceding quarter worth $225 million.
On March 10, Lufax Holding Ltd (NYSE:LU) declared an annual dividend of $0.68 per share. The forward yield was more than 12%. Citibank will likely distribute the payouts to shareholders by the end of April.
4. 51job, Inc. (NASDAQ:JOBS)
Number of Hedge Fund Holders: 26
Increase in Share Price Over Past Month: 4.41%
51job, Inc. (NASDAQ:JOBS) provides integrated human resource services. The shares of the firm have jumped in recent weeks after DCP Capital and Ocean Link Partners agreed on a deal to purchase the firm for $4.3 billion.
Elite hedge funds hold bullish positions in 51job, Inc. (NASDAQ:JOBS) stock. Among the hedge funds being tracked by Insider Monkey, Naples-based investment firm Pentwater Capital Management is a leading shareholder in 51job, Inc. (NASDAQ:JOBS) with 1.4 million shares worth close to $71 million.
3. Canaan Inc. (NASDAQ:CAN)
Number of Hedge Fund Holders: 8
Increase in Share Price Over Past Month: 24.95%
Canaan Inc. (NASDAQ:CAN) markets technology hardware, storage and peripherals. The hedge fund sentiment around the stock is mixed. At the end of the fourth quarter of 2021, 8 hedge funds in the database of Insider Monkey held stakes worth $16 million in Canaan Inc. (NASDAQ:CAN), the same as in the preceding quarter worth $31 million.
On March 16, Canaan Inc. (NASDAQ:CAN) approved a share repurchase program worth $100 million. The company has also recently stepped up crypto operations by deploying an additional 10,000 machines for mining coins.
2. Dada Nexus Limited (NASDAQ:DADA)
Number of Hedge Fund Holders: 15
Increase in Share Price Over Past Month: 11.37%
Dada Nexus Limited (NASDAQ:DADA) provides retail and delivery services. On March 9, Credit Suisse analyst Ashley Xu upgraded the stock to Outperform from Neutral with a price target of $17.5, noting that the firm had ample liquidity to support growth in the near future.
Hedge funds have been loading up on Dada Nexus Limited (NASDAQ:DADA) in recent months. At the end of the fourth quarter of 2021, 15 hedge funds in the database of Insider Monkey held stakes worth $86 million in Dada Nexus Limited (NASDAQ:DADA), compared to 13 in the preceding quarter worth $106 million.
1. Futu Holdings Limited (NASDAQ:FUTU)
Number of Hedge Fund Holders: 12
Increase in Share Price Over Past Month: 3.67%
Futu Holdings Limited (NASDAQ:FUTU) provides wealth management services. Among the hedge funds being tracked by Insider Monkey, New York-based investment firm Tiger Global Management LLC is a leading shareholder in Futu Holdings Limited (NASDAQ:FUTU) with 4.1 million shares worth more than $181 million.
On March 14, Citi analyst Judy Zhang maintained a Buy rating on Futu Holdings Limited (NASDAQ:FUTU) stock with a price target of $46.5, predicting moderate growth for the firm in 2022 and appreciating a recent share repurchase program.
You can also take a peek at 10 Companies that Benefit From Crypto Mining and 12 Best Artificial Intelligence Stocks To Invest In Right Now.
