300,000 Shares in Chenghe Acquisition III Co. $CHEC Bought by Radcliffe Capital Management L.P.

Radcliffe Capital Management L.P. purchased a new stake in Chenghe Acquisition III Co. (NASDAQ:CHEC) during the 4th quarter, Holdings Channel reports. The institutional investor purchased 300,000 shares of the company’s stock, valued at approximately $2,991,000.

Other hedge funds also recently added to or reduced their stakes in the company. Gladius Capital Management LP bought a new stake in shares of Chenghe Acquisition III in the 4th quarter worth about $150,000. Royal Bank of Canada bought a new position in shares of Chenghe Acquisition III during the fourth quarter worth about $168,000. K2 Principal Fund L.P. bought a new position in shares of Chenghe Acquisition III during the fourth quarter worth about $805,000. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in Chenghe Acquisition III in the fourth quarter worth about $1,248,000. Finally, Context Capital Management LLC bought a new stake in Chenghe Acquisition III in the fourth quarter valued at about $1,357,000.

Analysts Set New Price Targets

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

Chenghe Acquisition III Stock Performance

Chenghe Acquisition III stock opened at $10.16 on Wednesday. Chenghe Acquisition III Co. has a 1 year low of $9.91 and a 1 year high of $10.56. The business has a 50-day simple moving average of $10.12.

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

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.