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

Wallbox (NYSE:WBX) has received an average rating of “Moderate Buy” from the seven analysts that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $8.20.

A number of analysts have recently issued reports on the stock. Canaccord Genuity Group reduced their price objective on shares of Wallbox from $10.00 to $8.00 and set a “buy” rating for the company in a research note on Thursday, August 3rd. TD Cowen cut shares of Wallbox from an “outperform” rating to a “market perform” rating and set a $4.00 price objective for the company. in a research note on Thursday, August 3rd. Chardan Capital reduced their price objective on shares of Wallbox from $12.00 to $11.00 and set a “buy” rating for the company in a research note on Friday, June 30th. Finally, Bank of America reduced their price objective on shares of Wallbox from $5.00 to $4.00 in a research note on Thursday, August 10th.

Hedge Funds Weigh In On Wallbox

A number of hedge funds and other institutional investors have recently modified their holdings of WBX. Goldman Sachs Group Inc. lifted its position in Wallbox by 17.0% during the second quarter. Goldman Sachs Group Inc. now owns 21,747 shares of the company’s stock valued at $193,000 after purchasing an additional 3,161 shares during the last quarter. NEIRG Wealth Management LLC lifted its position in 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 purchasing an additional 3,164 shares during the last quarter. Walleye Capital LLC lifted its position in Wallbox by 11.9% during the first quarter. Walleye Capital LLC now owns 32,984 shares of the company’s stock valued at $421,000 after purchasing an additional 3,519 shares during the last quarter. Prelude Capital Management LLC lifted its position in Wallbox by 22.7% during the first quarter. Prelude Capital Management LLC now owns 22,435 shares of the company’s stock valued at $110,000 after purchasing an additional 4,156 shares during the last quarter. Finally, Toroso Investments LLC lifted its position in Wallbox by 7.5% during the fourth quarter. Toroso Investments LLC now owns 134,321 shares of the company’s stock valued at $481,000 after purchasing an additional 9,343 shares during the last quarter. Institutional investors own 12.99% of the company’s stock.

Wallbox Price Performance

Shares of NYSE WBX opened at $2.51 on Tuesday. The firm has a fifty day moving average price of $3.35 and a 200-day moving average price of $3.54. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.43 and a quick ratio of 0.83. Wallbox has a 1 year low of $2.44 and a 1 year high of $9.42.

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; 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.