Chenghe Acquisition III (NASDAQ:CHEC) Trading Down 0% – Should You Sell?

Chenghe Acquisition III Co. (NASDAQ:CHEC) shares 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 traded 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.

Analysts Set New Price Targets

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

Chenghe Acquisition III Stock Down 0.0%

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in CHEC. Gladius Capital Management LP bought a new stake in shares of Chenghe Acquisition III during the fourth quarter valued at about $150,000. MMCAP International Inc. SPC purchased a new position in Chenghe Acquisition III during the fourth quarter valued at approximately $1,496,000. Periscope Capital Inc. bought a new stake in Chenghe Acquisition III during the 4th quarter worth approximately $2,383,000. Picton Mahoney Asset Management purchased a new stake in Chenghe Acquisition III in the 4th quarter worth approximately $9,970,000. Finally, Mint Tower Capital Management B.V. purchased a new stake in Chenghe Acquisition III in the 4th quarter worth 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.