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

Key Points

• Shares traded down 0.1% to $10.25 with only ~19,223 shares changing hands (a 58% decline from average volume); the fifty-day moving average is $10.28.
• Weiss Ratings initiated coverage with a Sell (e+) rating, and the stock's consensus on MarketBeat is currently a Sell.
• Cartesian Growth Corp III is a SPAC that reported quarterly EPS of $0.06 and revenue of $2.71M, and several large investors (notably Cantor Fitzgerald) established or increased positions, including about a $7.3M stake.

Cartesian Growth Corp III (NASDAQ:CGCT - Get Free Report)'s stock price was down 0.1% during trading on Wednesday . The company traded as low as $10.24 and last traded at $10.25. Approximately 19,223 shares traded 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.

Wall Street Analyst Weigh In

Separately, Weiss Ratings started coverage on Cartesian Growth Corp III in a research report on Monday, January 26th. They set a "sell (e+)" rating on the stock. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has an average rating of "Sell".

Cartesian Growth Corp III Trading Down 0.1%

The business has a fifty day moving average price of $10.28.

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

Hedge Funds Weigh In On Cartesian Growth Corp III

Large investors have recently made changes to their positions in the business. Lineage Point Capital LP purchased a new stake in shares of Cartesian Growth Corp III during the 4th quarter valued at $1,983,000. Readystate Asset Management LP purchased a new position in Cartesian Growth Corp III during the 4th quarter worth $257,000. Rivernorth Capital Management LLC increased its position in Cartesian Growth Corp III by 23.1% during the 4th quarter. Rivernorth Capital Management LLC now owns 133,142 shares of the company's stock valued at $1,371,000 after buying an additional 24,999 shares in the last quarter. PenderFund Capital Management Ltd. acquired a new position in Cartesian Growth Corp III during the 4th quarter valued at about $234,000. Finally, Cantor Fitzgerald L. P. purchased a new stake in Cartesian Growth Corp III in the fourth quarter valued at about $7,300,000.

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.

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