Aristeia Capital L.L.C. Purchases New Shares in Chenghe Acquisition III Co. $CHEC

Aristeia Capital L.L.C. acquired a new position in shares of Chenghe Acquisition III Co. (NASDAQ:CHEC) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 387,428 shares of the company’s stock, valued at approximately $3,863,000.

Several other institutional investors have also made changes to their positions in the company. 683 Capital Management LLC acquired a new stake in shares of Chenghe Acquisition III during the 4th quarter valued at about $1,994,000. AQR Arbitrage LLC acquired a new stake in shares of Chenghe Acquisition III during the 4th quarter valued at about $5,220,000. Ghisallo Capital Management LLC acquired a new stake in shares of Chenghe Acquisition III during the 4th quarter valued at about $2,246,000. Radcliffe Capital Management L.P. acquired a new stake in shares of Chenghe Acquisition III during the 4th quarter valued at about $2,991,000. Finally, Royal Bank of Canada acquired a new stake in shares of Chenghe Acquisition III during the 4th quarter valued at about $168,000.

Chenghe Acquisition III Stock Performance

Shares of NASDAQ CHEC opened at $10.16 on Thursday. Chenghe Acquisition III Co. has a 12 month low of $9.91 and a 12 month high of $10.56. The stock has a 50 day simple moving average of $10.12.

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

Analysts Set New Price Targets

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 analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has a consensus 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.