Chenghe Acquisition III (NASDAQ:CHEC) Stock Price Down 0% – Here’s What Happened

Chenghe Acquisition III Co. (NASDAQ:CHEC)’s share price dropped 0% on Thursday . The stock traded as low as $10.06 and last traded at $10.06. Approximately 29 shares changed hands during mid-day trading, a decline of 100% from the average daily volume of 55,995 shares. The stock had previously closed at $10.0650.

Analysts Set New Price Targets

Separately, Weiss Ratings started coverage on Chenghe Acquisition III in a research report on Friday, February 6th. They set a “sell (e)” rating for the company. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has an average rating of “Sell”.

Chenghe Acquisition III Price Performance

Hedge Funds Weigh In On Chenghe Acquisition III

Several institutional investors and hedge funds have recently made changes to their positions in CHEC. Gladius Capital Management LP bought a new stake in Chenghe Acquisition III in the fourth quarter worth $150,000. Royal Bank of Canada purchased a new position in shares of Chenghe Acquisition III in the fourth quarter worth about $168,000. Virtu Financial LLC bought a new stake in shares of Chenghe Acquisition III in the 4th quarter valued at about $377,000. Boothbay Fund Management LLC purchased a new stake in Chenghe Acquisition III during the 4th quarter valued at about $498,000. Finally, K2 Principal Fund L.P. purchased a new stake in Chenghe Acquisition III during the 4th quarter valued at about $805,000.

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.