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

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

Chenghe Acquisition III Stock Up 0.2%

Shares of Chenghe Acquisition III stock traded up $0.02 during midday trading on Friday, hitting $10.13. The company had a trading volume of 14,007 shares, compared to its average volume of 32,789. Chenghe Acquisition III has a 52-week low of $9.91 and a 52-week high of $10.56. The firm has a 50 day moving average price of $10.08.

Analyst Upgrades and Downgrades

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 equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has an average rating of “Sell”.

Institutional Investors Weigh In On Chenghe Acquisition III

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

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.