Chenghe Acquisition III (NASDAQ:CHEC) Issues Earnings Results

Chenghe Acquisition III (NASDAQ:CHEC) issued its quarterly earnings results on Wednesday. The company reported $0.05 EPS for the quarter, FiscalAI reports.

Chenghe Acquisition III Trading Up 13.4%

NASDAQ CHEC traded up $1.37 during trading on Thursday, reaching $11.60. 129,011 shares of the company traded hands, compared to its average volume of 30,579. Chenghe Acquisition III has a 1-year low of $9.91 and a 1-year high of $10.56. The stock has a 50 day moving average price of $10.17.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Chenghe Acquisition III in a research report on Wednesday, July 29th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has an average rating of “Sell”.

Institutional Trading of Chenghe Acquisition III

Institutional investors have recently bought and sold shares of the stock. Gladius Capital Management LP acquired a new position in Chenghe Acquisition III during the fourth quarter worth $150,000. Royal Bank of Canada bought a new stake in shares of Chenghe Acquisition III in the 4th quarter worth about $168,000. Virtu Financial LLC acquired a new stake in shares of Chenghe Acquisition III during the 4th quarter worth about $377,000. Boothbay Fund Management LLC acquired a new stake in shares of Chenghe Acquisition III during the fourth quarter worth approximately $498,000. Finally, K2 Principal Fund L.P. acquired a new stake in Chenghe Acquisition III during the 4th quarter valued at $805,000.

Chenghe Acquisition III Company 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.