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

Chenghe Acquisition III (NASDAQ:CHEC) announced its quarterly earnings data on Thursday. The company reported $0.06 earnings per share (EPS) for the quarter, FiscalAI reports.

Chenghe Acquisition III Stock Performance

Shares of CHEC stock traded down $0.04 on Friday, hitting $10.36. The company had a trading volume of 107 shares, compared to its average volume of 29,420. The company has a 50-day moving average price of $10.29 and a 200-day moving average price of $10.18. Chenghe Acquisition III has a twelve month low of $9.91 and a twelve month high of $10.56.

Institutional Trading of Chenghe Acquisition III

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Alberta Investment Management Corp acquired a new position in Chenghe Acquisition III in the third quarter valued at approximately $5,135,000. Rivernorth Capital Management LLC purchased a new stake in Chenghe Acquisition III in the 1st quarter worth approximately $3,972,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Chenghe Acquisition III during the 1st quarter worth approximately $3,530,000. Sona Asset Management US LLC acquired a new stake in shares of Chenghe Acquisition III during the 1st quarter worth approximately $2,382,000. Finally, Context Capital Management LLC acquired a new stake in shares of Chenghe Acquisition III during the 3rd quarter worth approximately $1,400,000.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Chenghe Acquisition III in a research report on Tuesday. One equities research analyst has rated the stock with a Sell rating. Based on data from MarketBeat, the company has an average rating of “Sell”.

About Chenghe Acquisition III

Chenghe Acquisition III is a special purpose acquisition company (SPAC) formed to pursue a business combination with an existing company. It does not currently operate a business or offer products or services to customers. The company’s stated purpose is to complete a merger, share exchange, asset acquisition, share purchase, reorganization or similar transaction with one or more businesses. Its activities are centered on identifying and evaluating potential acquisition targets and negotiating a transaction.