200,000 Shares in Chenghe Acquisition III Co. $CHEC Bought by 683 Capital Management LLC

683 Capital Management LLC purchased a new position in shares of Chenghe Acquisition III Co. (NASDAQ:CHEC) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 200,000 shares of the company’s stock, valued at approximately $1,994,000.

A number of other hedge funds have also bought and sold shares of CHEC. Picton Mahoney Asset Management bought a new stake in Chenghe Acquisition III during the fourth quarter worth $9,970,000. Hudson Bay Capital Management LP purchased a new stake in Chenghe Acquisition III in the fourth quarter worth $6,487,000. Berkley W R Corp purchased a new stake in Chenghe Acquisition III in the fourth quarter worth $5,689,000. AQR Arbitrage LLC purchased a new stake in Chenghe Acquisition III in the fourth quarter worth $5,220,000. Finally, Alberta Investment Management Corp purchased a new stake in Chenghe Acquisition III in the fourth quarter worth $4,990,000.

Wall Street Analyst Weigh In

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 data from MarketBeat.com, the company currently has an average rating of “Sell”.

Chenghe Acquisition III Price Performance

Shares of NASDAQ CHEC opened at $10.16 on Thursday. Chenghe Acquisition III Co. has a fifty-two week low of $9.91 and a fifty-two week high of $10.56. The company has a fifty day moving average of $10.12.

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

About Chenghe Acquisition III

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.