Clear Street Group Inc. Invests $1.64 Million in Chenghe Acquisition III Co. $CHEC

Clear Street Group Inc. bought a new position in shares of Chenghe Acquisition III Co. (NASDAQ:CHEC) during the fourth quarter, HoldingsChannel reports. The fund bought 164,266 shares of the company’s stock, valued at approximately $1,638,000.

A number of other hedge funds have also modified their holdings of CHEC. Picton Mahoney Asset Management purchased a new position in shares of Chenghe Acquisition III during the fourth quarter worth approximately $9,970,000. Hudson Bay Capital Management LP purchased a new position in shares of Chenghe Acquisition III during the fourth quarter worth approximately $6,487,000. Berkley W R Corp purchased a new position in shares of Chenghe Acquisition III during the fourth quarter worth approximately $5,689,000. Periscope Capital Inc. purchased a new position in shares of Chenghe Acquisition III during the fourth quarter worth approximately $2,383,000. Finally, Mint Tower Capital Management B.V. purchased a new position in shares of Chenghe Acquisition III during the fourth quarter worth approximately $1,496,000.

Chenghe Acquisition III Stock Performance

NASDAQ:CHEC opened at $10.16 on Monday. The firm has a fifty day moving average price of $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 earnings per share for the quarter.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded shares of Chenghe Acquisition III from a “sell (e)” rating to a “sell (e+)” rating in a research report on Friday, May 1st. 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”.

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.