Cartesian Growth Corp III (NASDAQ:CGCT) Stock Price Down 0.4% – What’s Next?

Cartesian Growth Corp III (NASDAQ:CGCT) traded down 0.4% during trading on Friday . The stock traded as low as $10.25 and last traded at $10.25. 34,945 shares were traded during mid-day trading, a decline of 60% from the average session volume of 86,979 shares. The stock had previously closed at $10.29.

Wall Street Analyst Weigh In

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 on the stock. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock has an average rating of “Sell”.

Cartesian Growth Corp III Price Performance

Hedge Funds Weigh In On Cartesian Growth Corp III

A number of institutional investors have recently added to or reduced their stakes in the company. Lineage Point Capital LP acquired a new stake in Cartesian Growth Corp III in the fourth quarter valued at $1,983,000. Readystate Asset Management LP bought a new stake in shares of Cartesian Growth Corp III in the 4th quarter valued at about $257,000. Rivernorth Capital Management LLC lifted its stake in Cartesian Growth Corp III by 23.1% in the 4th quarter. Rivernorth Capital Management LLC now owns 133,142 shares of the company’s stock valued at $1,371,000 after purchasing an additional 24,999 shares during the last quarter. PenderFund Capital Management Ltd. bought a new position in Cartesian Growth Corp III during the fourth quarter worth about $234,000. Finally, Cantor Fitzgerald L. P. acquired a new position in Cartesian Growth Corp III during the fourth quarter worth approximately $7,300,000.

Cartesian Growth Corp III Company Profile

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.