Wallbox (NYSE:WBX) Price Target Cut to $6.00 by Analysts at UBS Group

Wallbox (NYSE:WBX) had its target price cut by UBS Group from $8.00 to $6.00 in a research report released on Monday,Benzinga reports. They currently have a neutral rating on the stock.

Other analysts have also issued reports about the stock. Canaccord Genuity Group reduced their price objective on shares of Wallbox from $15.00 to $9.00 and set a “buy” rating on the stock in a report on Friday. Chardan Capital upgraded shares of Wallbox to a “hold” rating in a research note on Wednesday, May 28th. Finally, Barclays boosted their price target on shares of Wallbox to $7.00 and gave the stock an “overweight” rating in a research note on Thursday, July 24th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Wallbox currently has an average rating of “Moderate Buy” and an average price target of $16.40.

Wallbox Stock Up 3.1%

Shares of WBX opened at $4.98 on Monday. Wallbox has a 12-month low of $4.60 and a 12-month high of $31.80. The company’s 50-day moving average price is $6.26 and its 200 day moving average price is $7.26. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.50 and a current ratio of 0.90.

Institutional Trading of Wallbox

A number of large investors have recently made changes to their positions in the company. Cubist Systematic Strategies LLC purchased a new stake in shares of Wallbox during the fourth quarter worth approximately $32,000. Larson Financial Group LLC purchased a new stake in shares of Wallbox during the first quarter worth approximately $25,000. Group One Trading LLC increased its stake in shares of Wallbox by 2,888.3% during the fourth quarter. Group One Trading LLC now owns 81,910 shares of the company’s stock worth $41,000 after buying an additional 79,169 shares during the period. Alpine Global Management LLC purchased a new stake in shares of Wallbox during the fourth quarter worth approximately $54,000. Finally, XTX Topco Ltd purchased a new stake in shares of Wallbox during the fourth quarter worth approximately $76,000. 36.94% of the stock is currently owned by hedge funds and other institutional investors.

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.