Cartesian Growth Corp III (NASDAQ:CGCT) Stock Price Up 27.3% – Here’s Why
by Renee Jackson · The Cerbat GemCartesian Growth Corp III (NASDAQ:CGCT – Get Free Report)’s share price traded up 27.3% during trading on Thursday . The company traded as high as $14.23 and last traded at $14.4310. 40,068 shares traded hands during trading, a decline of 79% from the average session volume of 187,041 shares. The stock had previously closed at $11.34.
Cartesian Growth Corp III Price Performance
The company has a market cap of $438.12 million and a PE ratio of 52.91. The firm’s 50-day simple moving average is $10.44.
Cartesian Growth Corp III (NASDAQ:CGCT – Get Free Report) last released its quarterly earnings data on Friday, May 15th. The company reported $0.05 earnings per share for the quarter. The company had revenue of $2.49 million during the quarter.
Institutional Investors Weigh In On Cartesian Growth Corp III
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Evercore Wealth Management LLC bought a new position in shares of Cartesian Growth Corp III during the 4th quarter worth about $104,000. PenderFund Capital Management Ltd. bought a new stake in Cartesian Growth Corp III in the 4th quarter valued at about $234,000. Readystate Asset Management LP acquired a new position in Cartesian Growth Corp III during the 4th quarter worth approximately $257,000. Marex Group plc bought a new position in Cartesian Growth Corp III in the fourth quarter worth approximately $309,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in Cartesian Growth Corp III in the fourth quarter worth approximately $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.