Chenghe Acquisition III (NASDAQ:CHEC) Posts Earnings Results

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

Chenghe Acquisition III Stock Up 0.1%

CHEC stock traded up $0.01 during midday trading on Wednesday, hitting $10.12. 14,007 shares of the company traded hands, compared to its average volume of 32,789. Chenghe Acquisition III has a twelve month low of $9.91 and a twelve month high of $10.56. The firm’s 50 day simple moving average is $10.08.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded Chenghe Acquisition III from a “sell (e)” rating to a “sell (e+)” rating in a report on Friday, May 1st. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock has an average rating of “Sell”.

Hedge Funds Weigh In On Chenghe Acquisition III

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CHEC. Picton Mahoney Asset Management acquired a new position in Chenghe Acquisition III during the fourth quarter valued at approximately $9,970,000. Hudson Bay Capital Management LP bought a new stake in shares of Chenghe Acquisition III in the fourth quarter valued at approximately $6,487,000. Berkley W R Corp bought a new stake in shares of Chenghe Acquisition III in the fourth quarter valued at approximately $5,689,000. AQR Arbitrage LLC bought a new stake in shares of Chenghe Acquisition III in the fourth quarter valued at approximately $5,220,000. Finally, TENOR CAPITAL MANAGEMENT Co. L.P. bought a new stake in shares of Chenghe Acquisition III in the fourth quarter valued at approximately $4,985,000.

About Chenghe Acquisition III

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.