Cartesian Growth Corp III (NASDAQ:CGCT) Trading Up 0.2% – Here’s What Happened

Cartesian Growth Corp III (NASDAQ:CGCT)’s share price was up 0.2% on Wednesday . The stock traded as high as $10.33 and last traded at $10.28. Approximately 385,006 shares were traded during mid-day trading, an increase of 187% from the average daily volume of 134,367 shares. The stock had previously closed at $10.26.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings started coverage on shares of Cartesian Growth Corp III in a report on Monday, January 26th. They issued a “sell (e+)” rating for the company. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has a consensus rating of “Sell”.

Cartesian Growth Corp III Stock Performance

The business has a fifty day simple moving average of $10.27.

Cartesian Growth Corp III (NASDAQ:CGCT) last announced its earnings results on Saturday, March 21st. The company reported $0.06 EPS for the quarter. The business had revenue of $2.71 million for the quarter.

Institutional Trading of Cartesian Growth Corp III

A number of large investors have recently added to or reduced their stakes in CGCT. UBS Group AG lifted its stake in Cartesian Growth Corp III by 264.9% in the fourth quarter. UBS Group AG now owns 215,841 shares of the company’s stock valued at $2,222,000 after acquiring an additional 156,697 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in Cartesian Growth Corp III in the fourth quarter valued at $1,030,000. Highbridge Capital Management LLC acquired a new stake in Cartesian Growth Corp III in the fourth quarter valued at $20,580,000. Marex Group plc acquired a new stake in Cartesian Growth Corp III in the fourth quarter valued at $309,000. Finally, L1 Global Manager Pty Ltd acquired a new stake in Cartesian Growth Corp III in the fourth quarter valued at $2,059,000.

About Cartesian Growth Corp III

Cartesian Growth Corp III (NASDAQ: CGCT) is a special purpose acquisition company (SPAC), commonly referred to as a blank-check company, that is listed on the Nasdaq stock exchange. As a SPAC, Cartesian Growth Corp III was formed to raise capital through an initial public offering with the objective of identifying, negotiating and completing one or more business combinations or acquisitions. The company itself does not operate an ongoing commercial business prior to completing a business combination.

The company’s principal activities center on sourcing potential acquisition targets, conducting due diligence, arranging transaction financing and completing a business combination that would result in an operating public company.