Chenghe Acquisition I (NASDAQ:LATG) Trading 40% Higher – What’s Next?

Shares of Chenghe Acquisition I Co. (NASDAQ:LATG) traded up 40% during trading on Monday . The stock traded as high as $12.00 and last traded at $11.90. 16,389 shares were traded during mid-day trading, a decline of 69% from the average session volume of 53,274 shares. The stock had previously closed at $8.50.

Chenghe Acquisition I Stock Performance

The business’s fifty day moving average price is $11.31 and its two-hundred day moving average price is $11.57. The stock has a market capitalization of $80.68 million, a P/E ratio of -34.00 and a beta of 0.07.

Hedge Funds Weigh In On Chenghe Acquisition I

A hedge fund recently raised its stake in Chenghe Acquisition I stock. Wolverine Asset Management LLC grew its stake in Chenghe Acquisition I Co. (NASDAQ:LATG) by 4.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 374,414 shares of the company’s stock after acquiring an additional 16,692 shares during the period. Wolverine Asset Management LLC owned 5.21% of Chenghe Acquisition I worth $4,338,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 50.85% of the company’s stock.

About Chenghe Acquisition I

Chenghe Acquisition I Co does not have significant operations. The company focuses on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses or entities. It intends to focus search for an initial business combination in the TMT, green energy, biotechnology, optoelectronics, and other sectors in the Asia Pacific.