Cartesian Growth Corp III (NASDAQ:CGCT) Sees Significant Increase in Short Interest

Cartesian Growth Corp III (NASDAQ:CGCT) saw a significant growth in short interest in the month of May. As of May 15th, there was short interest totaling 22,812 shares, a growth of 100.8% from the April 30th total of 11,362 shares. Based on an average daily volume of 175,212 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.1% of the shares of the company are short sold.

Hedge Funds Weigh In On Cartesian Growth Corp III

Several large investors have recently bought and sold shares of the stock. Evercore Wealth Management LLC bought a new stake in Cartesian Growth Corp III during the fourth quarter worth approximately $104,000. PenderFund Capital Management Ltd. acquired a new stake in Cartesian Growth Corp III in the 4th quarter valued at about $234,000. Rivernorth Capital Management LLC grew its stake in shares of Cartesian Growth Corp III by 23.1% in the 4th quarter. Rivernorth Capital Management LLC now owns 133,142 shares of the company’s stock worth $1,371,000 after purchasing an additional 24,999 shares during the last quarter. Readystate Asset Management LP bought a new stake in shares of Cartesian Growth Corp III in the 4th quarter worth approximately $257,000. Finally, Marex Group plc acquired a new stake in Cartesian Growth Corp III during the fourth quarter valued at approximately $309,000.

Cartesian Growth Corp III Price Performance

CGCT stock traded up $0.50 on Monday, reaching $13.03. The company’s stock had a trading volume of 26,744 shares, compared to its average volume of 184,970. Cartesian Growth Corp III has a 52 week low of $9.26 and a 52 week high of $15.30. The company has a market capitalization of $449.54 million and a P/E ratio of 54.67. The business has a fifty day simple moving average of $10.44.

Cartesian Growth Corp III (NASDAQ:CGCT) last announced its earnings results on Friday, May 15th. The company reported $0.05 earnings per share for the quarter. The business had revenue of $2.49 million for the quarter.

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.