Context Capital Management LLC Acquires New Shares in Chenghe Acquisition III Co. $CHEC

Context Capital Management LLC acquired a new stake in Chenghe Acquisition III Co. (NASDAQ:CHEC) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 136,151 shares of the company’s stock, valued at approximately $1,357,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Berkley W R Corp bought a new position in Chenghe Acquisition III in the 4th quarter valued at approximately $5,689,000. Hudson Bay Capital Management LP bought a new position in Chenghe Acquisition III in the 4th quarter valued at approximately $6,487,000. Mint Tower Capital Management B.V. bought a new position in Chenghe Acquisition III in the 4th quarter valued at approximately $1,496,000. Picton Mahoney Asset Management bought a new position in Chenghe Acquisition III in the 4th quarter valued at approximately $9,970,000. Finally, Periscope Capital Inc. bought a new position in Chenghe Acquisition III in the 4th quarter valued at approximately $2,383,000.

Chenghe Acquisition III Trading Up 0.1%

NASDAQ CHEC opened at $10.16 on Friday. The company’s fifty day moving average price is $10.11. Chenghe Acquisition III Co. has a 1-year low of $9.91 and a 1-year high of $10.56.

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

Analysts Set New Price Targets

Separately, Weiss Ratings raised Chenghe Acquisition III from a “sell (e)” rating to a “sell (e+)” rating in a research report on Friday, May 1st. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, Chenghe Acquisition III presently has a consensus 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.