Chenghe Acquisition III (NASDAQ:CHEC) Issues Earnings Results

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

Chenghe Acquisition III Stock Up 0.0%

CHEC stock traded up $0.01 during midday trading on Wednesday, reaching $10.20. The company had a trading volume of 129,011 shares, compared to its average volume of 30,579. The company’s 50 day moving average price is $10.17. Chenghe Acquisition III has a 1 year low of $9.91 and a 1 year high of $10.56.

Hedge Funds Weigh In On Chenghe Acquisition III

A number of hedge funds have recently modified their holdings of CHEC. Gladius Capital Management LP acquired a new stake in Chenghe Acquisition III during the fourth quarter valued at $150,000. Royal Bank of Canada acquired a new position in Chenghe Acquisition III in the fourth quarter worth approximately $168,000. Virtu Financial LLC acquired a new position in Chenghe Acquisition III in the fourth quarter worth approximately $377,000. Boothbay Fund Management LLC bought a new position in Chenghe Acquisition III during the fourth quarter valued at approximately $498,000. Finally, K2 Principal Fund L.P. bought a new position in Chenghe Acquisition III during the fourth quarter valued at approximately $805,000.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Chenghe Acquisition III in a report on Wednesday, July 29th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has a consensus rating of “Sell”.

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.