Chenghe Acquisition III (NASDAQ:CHEC) Shares Down 0% – Time to Sell?

Shares of Chenghe Acquisition III Co. (NASDAQ:CHEC) were down 0% during mid-day trading 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.

Analyst Ratings Changes

Separately, Weiss Ratings initiated coverage on Chenghe Acquisition III in a research report on Friday, February 6th. They issued a “sell (e)” rating on the stock. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Chenghe Acquisition III presently has a consensus rating of “Sell”.

Chenghe Acquisition III Stock Performance

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Picton Mahoney Asset Management acquired a new stake in Chenghe Acquisition III during the 4th quarter worth approximately $9,970,000. Hudson Bay Capital Management LP bought a new position in shares of Chenghe Acquisition III during the fourth quarter valued at $6,487,000. Berkley W R Corp bought a new position in shares of Chenghe Acquisition III during the fourth quarter valued at $5,689,000. AQR Arbitrage LLC acquired a new position in shares of Chenghe Acquisition III during the fourth quarter worth $5,220,000. Finally, TENOR CAPITAL MANAGEMENT Co. L.P. bought a new stake in shares of Chenghe Acquisition III in the fourth quarter worth $4,985,000.

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.