5 Chinese Stocks at Risk as Orders Drop

In this article, we discuss the 5 Chinese stocks at risk as orders drop in the US. If you want to read about some more Chinese stocks at risk as orders drop in the US, go directly to “Consumers Don’t Have the Money to Spend”: 10 Chinese Stocks at Risk as Orders Drop.

5. Pingtan Marine Enterprise Ltd. (NASDAQ:PME)

Number of Hedge Fund Holders: 3    

Pingtan Marine Enterprise Ltd. (NASDAQ:PME) operates in the ocean fishing business. It is based in Fuzhou. It catches and sells red fish, ribbon fish, sea catfish, sea bream, shrimp, silver pomfret and seaperch, slender shad, sole fish, Spanish mackerel, and threadfin. At the end of 2021, it owned 51 squid jigging vessels, 26 trawlers, 25 seine vessels, 13 drifters, 4 longline fishing vessels, and 3 transport vessels for the purpose. In late 2021, the firm was warned by authorities in the US of illegal, unreported, and unregulated fishing. A dramatic slowdown in US consumer spending is likely to weigh on the stock in the near term. 

On May 17, Pingtan Marine Enterprise Ltd. (NASDAQ:PME) posted earnings for the first quarter of 2022, reporting earnings per share of $0.08 and a revenue of more than $68 million, up over 102% compared to the revenue over the same period last year. 

At the end of the second quarter of 2022, 3 hedge funds in the database of Insider Monkey held stakes worth $160,000 in Pingtan Marine Enterprise Ltd. (NASDAQ:PME), the same as in the preceding quarter worth $44,000.