Chenghe Acquisition III (NASDAQ:CHEC) Issues Earnings Results

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

Chenghe Acquisition III Trading Up 0.2%

Shares of NASDAQ:CHEC traded up $0.02 on Thursday, hitting $10.13. The company had a trading volume of 14,007 shares, compared to its average volume of 32,789. The stock’s 50-day moving average is $10.08. Chenghe Acquisition III has a 1 year low of $9.91 and a 1 year high of $10.56.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised shares of Chenghe Acquisition III from a “sell (e)” rating to a “sell (e+)” rating in a report on Friday, May 1st. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Chenghe Acquisition III has an average rating of “Sell”.

Institutional Investors Weigh In On Chenghe Acquisition III

Several institutional investors and hedge funds have recently modified their holdings of the stock. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of Chenghe Acquisition III in the 4th quarter worth about $1,248,000. Virtu Financial LLC purchased a new stake in shares of Chenghe Acquisition III in the 4th quarter worth about $377,000. Alberta Investment Management Corp purchased a new stake in shares of Chenghe Acquisition III in the 4th quarter worth about $4,990,000. TENOR CAPITAL MANAGEMENT Co. L.P. purchased a new position in Chenghe Acquisition III during the 4th quarter valued at about $4,985,000. Finally, Millennium Management LLC purchased a new position in Chenghe Acquisition III during the 4th quarter valued at about $2,393,000.

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.