239,000 Shares in Chenghe Acquisition III Co. $CHEC Purchased by Periscope Capital Inc.

Periscope Capital Inc. bought a new position in shares of Chenghe Acquisition III Co. (NASDAQ:CHEC) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 239,000 shares of the company’s stock, valued at approximately $2,383,000.

Separately, Gladius Capital Management LP acquired a new stake in Chenghe Acquisition III during the fourth quarter worth about $150,000.

Chenghe Acquisition III Trading Up 0.2%

Shares of CHEC opened at $10.13 on Friday. Chenghe Acquisition III Co. has a 12 month low of $9.91 and a 12 month high of $10.56. The firm has a 50 day simple moving average of $10.10.

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

Analyst Ratings Changes

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 investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has an average rating of “Sell”.

Chenghe Acquisition III 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.