Wallbox (NYSE:WBX) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Wallbox (NYSE:WBX) have earned an average recommendation of “Moderate Buy” from the seven brokerages that are covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $6.93.

A number of brokerages have recently commented on WBX. TD Cowen downgraded Wallbox from an “outperform” rating to a “market perform” rating and set a $4.00 target price on the stock. in a research note on Thursday, August 3rd. Canaccord Genuity Group lowered their target price on Wallbox from $10.00 to $8.00 and set a “buy” rating on the stock in a research note on Thursday, August 3rd. Bank of America lowered their target price on Wallbox from $5.00 to $4.00 in a research note on Thursday, August 10th. UBS Group downgraded Wallbox from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $5.00 to $3.00 in a research note on Wednesday, September 27th. Finally, Chardan Capital downgraded Wallbox from a “buy” rating to a “neutral” rating and set a $2.25 target price on the stock. in a research note on Thursday, October 19th.

Hedge Funds Weigh In On Wallbox

Large investors have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Wallbox by 948.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,847 shares of the company’s stock worth $39,000 after purchasing an additional 16,144 shares during the period. Jane Street Group LLC acquired a new position in shares of Wallbox during the fourth quarter valued at approximately $46,000. NEIRG Wealth Management LLC raised its holdings in shares of Wallbox by 26.6% during the second quarter. NEIRG Wealth Management LLC now owns 15,062 shares of the company’s stock valued at $53,000 after acquiring an additional 3,164 shares during the last quarter. ExodusPoint Capital Management LP acquired a new position in shares of Wallbox during the fourth quarter valued at approximately $65,000. Finally, Baird Financial Group Inc. acquired a new position in shares of Wallbox during the fourth quarter valued at approximately $70,000. Institutional investors and hedge funds own 12.99% of the company’s stock.

Wallbox Stock Performance

Wallbox stock opened at $1.57 on Wednesday. Wallbox has a fifty-two week low of $1.47 and a fifty-two week high of $7.34. The company has a current ratio of 1.46, a quick ratio of 0.93 and a debt-to-equity ratio of 0.41. The business’s 50-day simple moving average is $2.40 and its two-hundred day simple moving average is $3.06.

About Wallbox

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; Quasar1 & 2, 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.