NEW YORK (TheStreet) -- Shares of JD.com (JD) - Get Report are down by 2.23% to $23.27 in mid-morning trading on Wednesday, as some U.S. traded China-based stocks take a hit as markets in the Asian nation closed lower on concerns regarding a depreciating yuan.
The Shanghai Composite index fell by 0.2% to 2,815.09 points and the CSI300 index dipped by 0.1% to 3,059.23 points, Reuters reports.
Fears of yuan depreciation reemerged as the dollar grew stronger and due to the possibility of a U.S. interest rate hike next month.
Trading volume in Shanghai fell to its lowest level in about four months, which shows investors have a low risk appetite, Reuters added.
JD.com is a Beijing-based online direct sales company that is focused on the sale of electronics, home appliances and general merchandise products.
Separately, TheStreet Ratings has set a "hold" rating and a score of C- on JD.com stock. The primary factors that have impacted the rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks.
The company's strengths can be seen in multiple areas, such as its robust revenue growth and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, TheStreet Ratings also finds weaknesses including deteriorating net income, disappointing return on equity and poor profit margins.
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: JD