Chenghe Acquisition III Co. (NASDAQ:CHEC) Short Interest Update

Chenghe Acquisition III Co. (NASDAQ:CHEC) was the target of a significant drop in short interest during the month of April. As of April 30th, there was short interest totaling 526 shares, a drop of 83.2% from the April 15th total of 3,126 shares. Based on an average daily trading volume, of 6,586 shares, the short-interest ratio is presently 0.1 days.

Chenghe Acquisition III Stock Up 0.1%

NASDAQ:CHEC traded up $0.01 on Wednesday, reaching $10.12. 14,007 shares of the company’s stock were exchanged, compared to its average volume of 32,789. Chenghe Acquisition III has a 52 week low of $9.91 and a 52 week high of $10.56. The company has a fifty day moving average of $10.08.

Chenghe Acquisition III (NASDAQ:CHEC) last issued its earnings results 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 report on Friday, May 1st. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has a consensus rating of “Sell”.

Hedge Funds Weigh In On Chenghe Acquisition III

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CHEC. Gladius Capital Management LP bought a new position in shares of Chenghe Acquisition III in the fourth quarter valued at approximately $150,000. MMCAP International Inc. SPC bought a new position in shares of Chenghe Acquisition III in the fourth quarter valued at approximately $1,496,000. Periscope Capital Inc. bought a new position in shares of Chenghe Acquisition III in the fourth quarter valued at approximately $2,383,000. Picton Mahoney Asset Management bought a new position in shares of Chenghe Acquisition III in the fourth quarter valued at approximately $9,970,000. Finally, Mint Tower Capital Management B.V. bought a new position in shares of Chenghe Acquisition III in the fourth quarter valued at approximately $1,496,000.

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.