Stifel Nicolaus Cuts Wallbox (NYSE:WBX) Price Target to $3.00

Wallbox (NYSE:WBX) had its price objective lowered by Stifel Nicolaus from $4.00 to $3.00 in a research report report published on Monday morning, Benzinga reports. Stifel Nicolaus currently has a buy rating on the stock.

Separately, Canaccord Genuity Group decreased their target price on Wallbox from $4.00 to $3.25 and set a buy rating for the company in a report on Tuesday, July 9th.

Wallbox Stock Performance

WBX stock opened at $1.32 on Monday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.35 and a quick ratio of 0.86. The stock has a 50-day moving average price of $1.38 and a two-hundred day moving average price of $1.45. Wallbox has a 12-month low of $1.21 and a 12-month high of $3.15.

Institutional Investors Weigh In On Wallbox

Several institutional investors and hedge funds have recently modified their holdings of WBX. J. Stern & Co. LLP acquired a new position in Wallbox during the 2nd quarter worth approximately $66,000. Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of Wallbox by 23.8% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 198,863 shares of the company’s stock valued at $282,000 after purchasing an additional 38,249 shares during the period. Aristides Capital LLC acquired a new position in shares of Wallbox during the fourth quarter worth $125,000. Finally, Norges Bank purchased a new position in shares of Wallbox in the fourth quarter valued at $8,923,000. Hedge funds and other institutional investors own 36.94% of the company’s stock.

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.