Sona Asset Management US LLC Buys Shares of 236,300 Chenghe Acquisition III Co. $CHEC

Sona Asset Management US LLC purchased a new stake in Chenghe Acquisition III Co. (NASDAQ:CHEC) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 236,300 shares of the company’s stock, valued at approximately $2,382,000.

Other hedge funds have also recently modified their holdings of the company. Context Capital Management LLC purchased a new position in Chenghe Acquisition III during the fourth quarter valued at approximately $1,357,000. Periscope Capital Inc. purchased a new stake in Chenghe Acquisition III during the fourth quarter worth $2,383,000. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in Chenghe Acquisition III during the fourth quarter worth $1,248,000. MMCAP International Inc. SPC bought a new stake in Chenghe Acquisition III during the 4th quarter valued at $1,496,000. Finally, K2 Principal Fund L.P. bought a new stake in Chenghe Acquisition III during the 4th quarter valued at $805,000.

Chenghe Acquisition III Trading Down 0.4%

Shares of Chenghe Acquisition III stock opened at $10.14 on Monday. The stock has a 50 day moving average price of $10.16. Chenghe Acquisition III Co. has a 52-week low of $9.91 and a 52-week high of $10.56.

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

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded Chenghe Acquisition III from a “sell (e)” rating to a “sell (e+)” rating in a report on Friday, May 1st. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has a consensus rating of “Sell”.

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.