Cartesian Growth Corp III (NASDAQ:CGCT) Stock Price Down 1.7% – Time to Sell?

Shares of Cartesian Growth Corp III (NASDAQ:CGCT) dropped 1.7% on Thursday . The stock traded as low as $5.50 and last traded at $5.86. 299,911 shares changed hands during trading, an increase of 5% from the average session volume of 284,359 shares. The stock had previously closed at $5.96.

Cartesian Growth Corp III Stock Performance

The firm has a market cap of $202.17 million and a price-to-earnings ratio of 24.42. The business’s 50 day moving average price is $9.44 and its 200-day moving average price is $10.10.

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

Hedge Funds Weigh In On Cartesian Growth Corp III

Several large investors have recently added to or reduced their stakes in the company. Fort Baker Capital Management LP bought a new stake in Cartesian Growth Corp III during the fourth quarter valued at $26,037,000. Highbridge Capital Management LLC bought a new position in shares of Cartesian Growth Corp III in the 4th quarter worth about $20,580,000. Cantor Fitzgerald L. P. acquired a new position in shares of Cartesian Growth Corp III in the 4th quarter valued at about $7,300,000. Radcliffe Capital Management L.P. boosted its holdings in shares of Cartesian Growth Corp III by 17.2% in the 4th quarter. Radcliffe Capital Management L.P. now owns 595,796 shares of the company’s stock valued at $6,134,000 after buying an additional 87,383 shares during the period. Finally, Sculptor Capital LP bought a new stake in shares of Cartesian Growth Corp III during the 4th quarter valued at about $3,193,000.

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.