5 Worst-Performing S&P 500 Stocks in 2022

In this article, we will look at the 5 worst-performing S&P 500 stocks in 2022. If you want to explore similar stocks, you can also take a look at 10 Worst-Performing S&P 500 Stocks in 2022.

5. NVIDIA Corporation (NASDAQ:NVDA)

Year to Date Return as of September 16: -56.49%

Number of Hedge Fund Holders: 84

At the end of Q2 2022, 84 hedge funds were bullish on NVIDIA Corporation (NASDAQ:NVDA). The total stakes of these hedge funds amounted to $3.31 billion, down from $6.35 billion in the previous quarter with 102 positions.

This September, Evercore ISI analyst C.J. Muse cut his third-quarter revenue estimates for NVIDIA Corporation (NASDAQ:NVDA) by $250 million but maintained an Outperform rating and his $225 price target on the stock. Muse noted that the risk/reward ratio for NVIDIA Corporation (NASDAQ:NVDA) is “extremely attractive” at current levels. As of September 16, the stock has lost 56.49% year to date and is trading at a PE multiple of 35x.

On September 15, Mizuho analyst Vijay Rakesh slashed his price target on NVIDIA Corporation (NASDAQ:NVDA) to $205 from $225 but maintained a Buy rating on the shares.

As of June 30, Fisher Asset Management is the top shareholder in NVIDIA Corporation (NASDAQ:NVDA) with stakes worth $1.15 billion. The investment covers 0.81% of Ken Fisher’s 13F portfolio.

Here is what Baron Funds had to say about NVIDIA Corporation (NASDAQ:NVDA) in its second-quarter 2022 investor letter:

“At the company-specific level, there was a broad correction across the entire portfolio. While four of our holdings contributed to performance, the contribution to absolute returns was less than 100bps combined, as unfortunately none of them were large enough to move the needle. We had 16 investments detracting over 100bps each with NVIDIA (NASDAQ:NVDA), our second largest detractor, costing the Fund 254bps.

NVIDIA’s stock was hit even harder, down 44.4%, impacted by concerns over the health of the consumer, dramatic declines in crypto, and COVID-related lockdowns in China. Despite the sell-off and the increased near-term volatility in its gaming business, NVIDIA’s revenues grew 46% year-over-year with 48% operating margins, driven by continued strength in its data center business as companies across industries adopt AI and ML…” (Click here to see the full text)