Chenghe Acquisition III (NASDAQ:CHEC) Issues Quarterly Earnings Results

Chenghe Acquisition III (NASDAQ:CHEC) announced its quarterly earnings results on Thursday. The company reported $0.06 earnings per share (EPS) for the quarter, FiscalAI reports.

Chenghe Acquisition III Stock Performance

Shares of CHEC stock traded down $0.04 during mid-day trading on Thursday, hitting $10.36. 107 shares of the stock were exchanged, compared to its average volume of 29,420. The stock’s fifty day simple moving average is $10.29 and its two-hundred day simple moving average is $10.18. Chenghe Acquisition III has a 12-month low of $9.91 and a 12-month high of $10.56.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Chenghe Acquisition III in a report on Tuesday. One research analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, the company currently has an average rating of “Sell”.

Institutional Trading of Chenghe Acquisition III

A number of large investors have recently made changes to their positions in the company. Alberta Investment Management Corp acquired a new position in Chenghe Acquisition III during the third quarter worth approximately $5,135,000. Rivernorth Capital Management LLC acquired a new stake in shares of Chenghe Acquisition III in the first quarter valued at approximately $3,972,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Chenghe Acquisition III in the first quarter valued at approximately $3,530,000. Sona Asset Management US LLC purchased a new position in shares of Chenghe Acquisition III during the first quarter worth approximately $2,382,000. Finally, Context Capital Management LLC purchased a new position in shares of Chenghe Acquisition III during the third quarter worth approximately $1,400,000.

Chenghe Acquisition III Company Profile

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.