Chenghe Acquisition I (NASDAQ:LATG) Stock Price Up 40% – Time to Buy?

Chenghe Acquisition I Co. (NASDAQ:LATG) shares rose 40% on Thursday . The stock traded as high as $12.00 and last traded at $11.90. Approximately 16,389 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 117,542 shares. The stock had previously closed at $8.50.

Chenghe Acquisition I Trading Up 40.0 %

The company has a market cap of $80.68 million, a price-to-earnings ratio of -34.00 and a beta of 0.07. The business’s 50 day moving average price is $11.33 and its 200-day moving average price is $11.46.

Institutional Investors Weigh In On Chenghe Acquisition I

A hedge fund recently raised its stake in Chenghe Acquisition I stock. Wolverine Asset Management LLC grew its position in shares of Chenghe Acquisition I Co. (NASDAQ:LATG) by 4.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 374,414 shares of the company’s stock after buying an additional 16,692 shares during the period. Wolverine Asset Management LLC owned approximately 5.21% of Chenghe Acquisition I worth $4,338,000 at the end of the most recent quarter. 50.85% of the stock is currently owned by institutional investors and hedge funds.

Chenghe Acquisition I Company Profile

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.