Chenghe Acquisition I (NASDAQ:LATG) Shares Up 40% – What’s Next?

Shares of Chenghe Acquisition I Co. (NASDAQ:LATG) traded up 40% during trading on Thursday . The stock traded as high as $12.00 and last traded at $11.90. 16,389 shares were traded during mid-day trading, a decline of 86% from the average session volume of 117,542 shares. The stock had previously closed at $8.50.

Chenghe Acquisition I Trading Up 40.0 %

The firm’s 50-day moving average price is $11.33 and its 200 day moving average price is $11.46. The company has a market capitalization of $80.68 million, a price-to-earnings ratio of -34.00 and a beta of 0.07.

Institutional Investors Weigh In On Chenghe Acquisition I

A hedge fund recently raised its stake in Chenghe Acquisition I stock. Wolverine Asset Management LLC increased its holdings in shares of Chenghe Acquisition I Co. (NASDAQ:LATG) by 4.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 374,414 shares of the company’s stock after buying an additional 16,692 shares during the quarter. Wolverine Asset Management LLC owned 5.21% of Chenghe Acquisition I worth $4,338,000 at the end of the most recent reporting period. Institutional investors own 50.85% of the company’s stock.

Chenghe Acquisition I Company Profile

Chenghe Acquisition I Co does not have significant operations. The company focuses on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses or entities. It intends to focus search for an initial business combination in the TMT, green energy, biotechnology, optoelectronics, and other sectors in the Asia Pacific.