Chenghe Acquisition I (NASDAQ:LATG) Shares Up 40% – Should You Buy?

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

Chenghe Acquisition I Stock Up 40.0 %

The company’s fifty day simple moving average is $11.32 and its two-hundred day simple moving average is $11.45.

Institutional Investors Weigh In On Chenghe Acquisition I

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

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.