Cartesian Growth Corp III (NASDAQ:CGCT) Shares Down 0.1% – Here’s Why

Shares of Cartesian Growth Corp III (NASDAQ:CGCT) fell 0.1% on Wednesday . The company traded as low as $10.24 and last traded at $10.25. 19,223 shares were traded during trading, a decline of 58% from the average session volume of 46,224 shares. The stock had previously closed at $10.26.

Analysts Set New Price Targets

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

Cartesian Growth Corp III Trading Down 0.1%

The company’s fifty day simple moving average is $10.28.

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

Institutional Investors Weigh In On Cartesian Growth Corp III

Institutional investors and hedge funds have recently modified their holdings of the company. UBS Group AG boosted its position 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 buying an additional 156,697 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in Cartesian Growth Corp III during the 4th quarter worth approximately $1,030,000. Highbridge Capital Management LLC acquired a new stake in Cartesian Growth Corp III during the 4th quarter valued at approximately $20,580,000. Marex Group plc acquired a new stake in Cartesian Growth Corp III during the 4th quarter valued at approximately $309,000. Finally, L1 Global Manager Pty Ltd purchased a new stake in shares of Cartesian Growth Corp III in the 4th 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.