Cartesian Growth Corp III (NASDAQ:CGCT) Trading Down 0.1% – Time to Sell?

Cartesian Growth Corp III (NASDAQ:CGCT) was down 0.1% on Wednesday . The company traded as low as $10.24 and last traded at $10.25. Approximately 19,223 shares changed hands during mid-day trading, a decline of 58% from the average daily volume of 46,224 shares. The stock had previously closed at $10.26.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings initiated coverage on Cartesian Growth Corp III in a research note on Monday, January 26th. They set a “sell (e+)” rating on the stock. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

Cartesian Growth Corp III Trading Up 0.1%

The stock’s 50 day simple moving average is $10.28.

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

Hedge Funds Weigh In On Cartesian Growth Corp III

Several institutional investors have recently bought and sold shares of the business. Evercore Wealth Management LLC bought a new stake in shares of Cartesian Growth Corp III in the 4th quarter worth about $104,000. PenderFund Capital Management Ltd. purchased a new position in Cartesian Growth Corp III in the fourth quarter worth about $234,000. Readystate Asset Management LP bought a new stake in Cartesian Growth Corp III during the fourth quarter worth approximately $257,000. Marex Group plc bought a new stake in Cartesian Growth Corp III during the fourth quarter worth approximately $309,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in Cartesian Growth Corp III during the fourth quarter valued at approximately $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.