Chenghe Acquisition III Co. (NASDAQ:CHEC) Short Interest Down 83.2% in April

Chenghe Acquisition III Co. (NASDAQ:CHEC) was the target of a large 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 currently 0.1 days.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded 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, According to data from MarketBeat.com, Chenghe Acquisition III presently has an average rating of “Sell”.

Institutional Trading of Chenghe Acquisition III

Institutional investors and hedge funds have recently made changes to their positions in the company. Virtu Financial LLC acquired a new stake in shares of Chenghe Acquisition III during the 4th quarter worth $377,000. Aristeia Capital L.L.C. acquired a new stake in shares of Chenghe Acquisition III during the 4th quarter worth $3,863,000. 683 Capital Management LLC purchased a new stake in Chenghe Acquisition III during the 4th quarter worth $1,994,000. Radcliffe Capital Management L.P. purchased a new stake in Chenghe Acquisition III during the 4th quarter worth $2,991,000. Finally, Royal Bank of Canada acquired a new position in shares of Chenghe Acquisition III during the fourth quarter worth $168,000.

Chenghe Acquisition III Stock Up 0.2%

Shares of NASDAQ:CHEC traded up $0.02 during trading on Thursday, hitting $10.13. The company’s stock had a trading volume of 14,007 shares, compared to its average volume of 32,789. The firm’s 50 day simple moving average is $10.08. Chenghe Acquisition III has a fifty-two week low of $9.91 and a fifty-two week high of $10.56.

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

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.