Wallbox (NYSE:WBX) Cut to “Hold” at Stifel Nicolaus

Stifel Nicolaus downgraded shares of Wallbox (NYSE:WBX) from a buy rating to a hold rating in a report issued on Wednesday, MarketBeat Ratings reports. They currently have $1.50 price target on the stock, down from their previous price target of $3.00.

Several other analysts have also recently commented on the company. Canaccord Genuity Group lowered their price target on Wallbox from $4.00 to $3.25 and set a “buy” rating for the company in a report on Tuesday, July 9th. UBS Group decreased their target price on Wallbox from $1.75 to $1.25 and set a “neutral” rating for the company in a report on Tuesday, October 15th.

Wallbox Stock Performance

WBX opened at $0.86 on Wednesday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.68 and a current ratio of 1.16. The business has a 50-day moving average of $1.17 and a two-hundred day moving average of $1.34. Wallbox has a 12 month low of $0.82 and a 12 month high of $2.09.

Institutional Trading of Wallbox

An institutional investor recently raised its position in Wallbox stock. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Wallbox (NYSE:WBX) by 23.8% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 198,863 shares of the company’s stock after acquiring an additional 38,249 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.12% of Wallbox worth $282,000 at the end of the most recent reporting period. 36.94% of the stock is currently owned by institutional investors and hedge funds.

Wallbox Company Profile

Wallbox N.V., a technology company, designs, manufactures, and distributes charging solutions for residential, business, and public use worldwide. The company operates in three segments: Europe-Middle East and Asia, North America, and Asia-Pacific. It offers EV charging hardware products, such as Pulsar Plus, Pulsar Plus Socket, Pulsar Max, and Pulsar Pro, an AC smart chargers for home and shared spaces; 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 2, a DC bi-directional charger for home-use that allows to charge and discharge electric vehicle; 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; as well as Wallbox ABL eM4 Single and Twin chargers and eMC3 charging pole.