Cartesian Growth Corp III (NASDAQ:CGCT) Stock Price Up 0.6% – Time to Buy?

Cartesian Growth Corp III (NASDAQ:CGCT) shares rose 0.6% during mid-day trading on Wednesday . The stock traded as high as $5.75 and last traded at $5.25. 230,234 shares traded hands during mid-day trading, a decline of 19% from the average daily volume of 284,359 shares. The stock had previously closed at $5.22.

Cartesian Growth Corp III Stock Up 0.6%

The company has a 50 day moving average of $11.27. The stock has a market cap of $181.12 million and a PE ratio of 21.88.

Cartesian Growth Corp III (NASDAQ:CGCT) last issued its earnings results on Friday, May 15th. The company reported $0.05 earnings per share for the quarter. The firm had revenue of $2.49 million during the quarter.

Institutional Investors Weigh In On Cartesian Growth Corp III

A number of hedge funds and other institutional investors have recently modified their holdings of CGCT. Evercore Wealth Management LLC purchased a new stake in shares of Cartesian Growth Corp III during the 4th quarter worth $104,000. PenderFund Capital Management Ltd. purchased a new position in Cartesian Growth Corp III in the fourth quarter valued at $234,000. Readystate Asset Management LP acquired a new stake in Cartesian Growth Corp III in the fourth quarter valued at $257,000. Marex Group plc acquired a new stake in Cartesian Growth Corp III in the fourth quarter valued at $309,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in Cartesian Growth Corp III during the 4th quarter worth about $1,030,000.

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.