Wallbox (NYSE:WBX – Get Rating)’s stock price fell 7.9% during mid-day trading on Tuesday after UBS Group lowered their price target on the stock from $14.00 to $7.00. UBS Group currently has a buy rating on the stock. Wallbox traded as low as $4.11 and last traded at $4.17. 1,763 shares were traded during mid-day trading, a decline of 100% from the average session volume of 594,903 shares. The stock had previously closed at $4.53.
Several other brokerages have also commented on WBX. Robert W. Baird decreased their price target on Wallbox from $20.00 to $14.00 in a research note on Thursday, November 10th. Canaccord Genuity Group decreased their target price on Wallbox from $14.00 to $13.00 and set a “buy” rating on the stock in a research note on Thursday, November 10th. Northland Securities initiated coverage on Wallbox in a research note on Tuesday, November 22nd. They set an “outperform” rating and a $16.00 target price on the stock. Finally, Credit Suisse Group decreased their target price on Wallbox from $11.00 to $10.00 and set an “outperform” rating on the stock in a research note on Friday, December 2nd. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, Wallbox presently has a consensus rating of “Moderate Buy” and an average target price of $14.09.
Institutional Trading of Wallbox
A number of hedge funds have recently added to or reduced their stakes in the stock. First Trust Advisors LP acquired a new stake in Wallbox during the 1st quarter worth approximately $12,279,000. Vontobel Holding Ltd. acquired a new position in Wallbox during the second quarter worth $1,542,000. Bank of America Corp DE raised its holdings in Wallbox by 60.3% during the first quarter. Bank of America Corp DE now owns 150,585 shares of the company’s stock worth $1,920,000 after purchasing an additional 56,673 shares during the last quarter. Toroso Investments LLC raised its holdings in Wallbox by 49.5% during the third quarter. Toroso Investments LLC now owns 124,978 shares of the company’s stock worth $985,000 after purchasing an additional 41,387 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in Wallbox by 646.9% during the first quarter. JPMorgan Chase & Co. now owns 121,909 shares of the company’s stock worth $1,554,000 after purchasing an additional 105,586 shares during the last quarter. 5.31% of the stock is owned by institutional investors and hedge funds.
Wallbox Stock Down 7.9 %
The firm has a fifty day moving average of $4.82 and a 200-day moving average of $7.23. The company has a current ratio of 1.61, a quick ratio of 1.24 and a debt-to-equity ratio of 0.15.
Wallbox Company Profile
Wallbox N.V., a technology company, designs, manufactures, and distributes charging solutions for residential, business, and public use. The company operates in three segments: Europe-Middle East Asia, North America, and Asia-Pacific. It offers EV charging hardware products, such as Pulsar Plus, an AC smart charger for home or multi-family residence; Commander 2, an AC smart charger for fleets and businesses with a 7-inch touchscreen display that provides a personalized and secure user interface for multiple users; Copper SB, an AC smart charger for fleets and businesses with an integrated socket that makes it compatible with both type 1 and type 2 charging cables; Quasar, a DC bi-directional charger for home-use that allows to charge and discharge electric vehicle, and enables to use car battery to power home or sell energy back to the grid; Supernova, a DC fast charger equipment designed for public use; and Hypernova that allows to optimize available power and adapt to the number of EVs connected for public charging along highways and transcontinental road networks.