K2 Principal Fund L.P. Invests $805,000 in Chenghe Acquisition III Co. $CHEC

K2 Principal Fund L.P. acquired a new position in shares of Chenghe Acquisition III Co. (NASDAQ:CHEC) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 80,760 shares of the company’s stock, valued at approximately $805,000.

A number of other large investors have also modified their holdings of CHEC. Picton Mahoney Asset Management purchased a new stake in shares of Chenghe Acquisition III during the fourth quarter worth $9,970,000. Hudson Bay Capital Management LP purchased a new stake in shares of Chenghe Acquisition III during the fourth quarter worth $6,487,000. Berkley W R Corp purchased a new stake in shares of Chenghe Acquisition III during the fourth quarter worth $5,689,000. Periscope Capital Inc. purchased a new stake in shares of Chenghe Acquisition III during the fourth quarter worth $2,383,000. Finally, Clear Street Group Inc. purchased a new stake in shares of Chenghe Acquisition III during the fourth quarter worth $1,638,000.

Chenghe Acquisition III Stock Performance

NASDAQ:CHEC opened at $10.16 on Friday. The company has a fifty day simple moving average of $10.11. Chenghe Acquisition III Co. has a 12 month low of $9.91 and a 12 month high of $10.56.

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

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised 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 data from MarketBeat, Chenghe Acquisition III currently has an average rating of “Sell”.

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.