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 decrease in short interest during the month of April. As of April 30th, there was short interest totaling 526 shares, a decrease of 83.2% from the April 15th total of 3,126 shares. Based on an average trading volume of 6,586 shares, the days-to-cover ratio is currently 0.1 days.

Analyst Upgrades and Downgrades

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 research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Chenghe Acquisition III currently has an average rating of “Sell”.

Chenghe Acquisition III Stock Performance

CHEC remained flat at $10.11 on Tuesday. 800 shares of the company were exchanged, compared to its average volume of 33,207. The business has a 50-day moving average price of $10.07. Chenghe Acquisition III has a 52-week low of $9.91 and a 52-week high of $10.56.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Picton Mahoney Asset Management acquired a new position in Chenghe Acquisition III in the fourth quarter valued at $9,970,000. Hudson Bay Capital Management LP acquired a new position in Chenghe Acquisition III in the 4th quarter valued at about $6,487,000. Berkley W R Corp acquired a new position in Chenghe Acquisition III in the 4th quarter valued at about $5,689,000. AQR Arbitrage LLC purchased a new stake in Chenghe Acquisition III during the 4th quarter valued at approximately $5,220,000. Finally, TENOR CAPITAL MANAGEMENT Co. L.P. purchased a new stake in Chenghe Acquisition III during the 4th quarter valued at approximately $4,985,000.

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.