Context Capital Management LLC acquired a new stake in Chenghe Acquisition III Co. (NASDAQ:CHEC – Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 136,151 shares of the company’s stock, valued at approximately $1,400,000.
A number of other institutional investors also recently added to or reduced their stakes in the business. Rivernorth Capital Management LLC acquired a new position in Chenghe Acquisition III during the 1st quarter worth approximately $3,972,000. Sona Asset Management US LLC purchased a new position in shares of Chenghe Acquisition III during the 1st quarter worth approximately $2,382,000. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Chenghe Acquisition III during the 1st quarter worth approximately $3,530,000.
Wall Street Analyst Weigh In
Separately, Weiss Ratings raised Chenghe Acquisition III from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, August 12th. One analyst has rated the stock with a Sell rating. According to MarketBeat.com, the company presently has a consensus rating of “Sell”.
View Our Latest Stock Report on CHEC
Chenghe Acquisition III Stock Performance
Shares of NASDAQ CHEC opened at $10.32 on Wednesday. Chenghe Acquisition III Co. has a one year low of $9.91 and a one year high of $10.56. The company’s fifty day moving average is $10.29 and its two-hundred day moving average is $10.17.
About Chenghe Acquisition III
Chenghe Acquisition III is a special purpose acquisition company (SPAC) formed to pursue a business combination with an existing company. It does not currently operate a business or offer products or services to customers. The company’s stated purpose is to complete a merger, share exchange, asset acquisition, share purchase, reorganization or similar transaction with one or more businesses. Its activities are centered on identifying and evaluating potential acquisition targets and negotiating a transaction.
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