239,000 Shares in Chenghe Acquisition III Co. $CHEC Bought by Periscope Capital Inc.

Periscope Capital Inc. purchased a new stake in Chenghe Acquisition III Co. (NASDAQ:CHEC) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 239,000 shares of the company’s stock, valued at approximately $2,383,000.

Separately, MMCAP International Inc. SPC acquired a new position in shares of Chenghe Acquisition III in the fourth quarter valued at about $1,496,000.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised Chenghe Acquisition III from a “sell (e)” rating to a “sell (e+)” rating in a report on Friday, May 1st. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Chenghe Acquisition III presently has a consensus rating of “Sell”.

Chenghe Acquisition III Trading Up 0.2%

Shares of CHEC stock opened at $10.13 on Friday. The company has a 50-day moving average price of $10.10. Chenghe Acquisition III Co. has a fifty-two week low of $9.91 and a fifty-two week high of $10.56.

Chenghe Acquisition III (NASDAQ:CHEC) last announced its quarterly earnings data on Wednesday, March 25th. The company reported $0.14 earnings per share for the quarter.

Chenghe Acquisition III Profile

Chenghe Acquisition III (NASDAQ: CHEC) is a special-purpose acquisition company, commonly known as a SPAC, that was formed to effect a business combination with one or more operating companies. As a blank?check vehicle, the company’s primary business activity is identifying, negotiating and completing an acquisition, merger or other strategic combination rather than operating traditional, revenue?generating businesses.

Like many SPACs, Chenghe Acquisition III holds funds in a trust account pending the completion of a qualifying business combination and typically offers public shareholders the option to redeem their shares if they do not approve a proposed transaction.