Context Capital Management LLC Invests $1.36 Million in Chenghe Acquisition III Co. $CHEC

Context Capital Management LLC purchased a new position in Chenghe Acquisition III Co. (NASDAQ:CHEC) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 136,151 shares of the company’s stock, valued at approximately $1,357,000.

A number of other institutional investors have also bought and sold shares of CHEC. Gladius Capital Management LP purchased a new stake in Chenghe Acquisition III in the 4th quarter worth $150,000. MMCAP International Inc. SPC purchased a new stake in Chenghe Acquisition III in the 4th quarter worth $1,496,000. Mint Tower Capital Management B.V. purchased a new stake in Chenghe Acquisition III in the 4th quarter worth $1,496,000. Periscope Capital Inc. purchased a new stake in Chenghe Acquisition III in the 4th quarter worth $2,383,000. Finally, Berkley W R Corp purchased a new stake in Chenghe Acquisition III in the 4th quarter worth $5,689,000.

Analysts Set New Price Targets

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

Chenghe Acquisition III Stock Up 0.1%

CHEC opened at $10.16 on Friday. The firm’s 50-day moving average is $10.11. Chenghe Acquisition III Co. has a 52 week low of $9.91 and a 52 week high of $10.56.

Chenghe Acquisition III (NASDAQ:CHEC) last released its quarterly earnings data on Wednesday, March 25th. The company reported $0.14 EPS for the quarter.

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.