Cartesian Growth Corp III (NASDAQ:CGCT) Stock Price Up 0.6% – Here’s What Happened

Cartesian Growth Corp III (NASDAQ:CGCT) rose 0.6% on Wednesday . The stock traded as high as $5.75 and last traded at $5.25. Approximately 230,234 shares changed hands during 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 Performance

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

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

Institutional Investors Weigh In On Cartesian Growth Corp III

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

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.