Short Interest in Wallbox (NYSE:WBX) Rises By 27.5%

Wallbox (NYSE:WBX) was the target of a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 2,600,000 shares, an increase of 27.5% from the February 28th total of 2,040,000 shares. Based on an average daily volume of 785,900 shares, the short-interest ratio is currently 3.3 days. Currently, 3.2% of the company’s shares are short sold.

Analyst Ratings Changes

Several analysts recently issued reports on WBX shares. Canaccord Genuity Group reduced their price objective on shares of Wallbox from $1.50 to $1.00 and set a “buy” rating on the stock in a report on Friday, February 28th. UBS Group reduced their price target on shares of Wallbox from $1.25 to $0.50 and set a “neutral” rating on the stock in a research note on Monday, January 27th. Chardan Capital raised shares of Wallbox to a “hold” rating in a research report on Monday, March 24th. Finally, Stifel Nicolaus cut their target price on Wallbox from $1.50 to $1.00 and set a “hold” rating on the stock in a research report on Monday, March 10th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $1.13.

Wallbox Trading Down 2.0 %

Shares of WBX stock opened at $0.33 on Thursday. Wallbox has a fifty-two week low of $0.29 and a fifty-two week high of $1.73. The company has a 50 day moving average price of $0.42 and a 200 day moving average price of $0.67. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.68 and a current ratio of 1.16.

Hedge Funds Weigh In On Wallbox

Several institutional investors have recently modified their holdings of WBX. Cubist Systematic Strategies LLC acquired a new position in Wallbox during the 4th quarter worth $32,000. Group One Trading LLC raised its holdings in shares of Wallbox by 2,888.3% in the 4th quarter. Group One Trading LLC now owns 81,910 shares of the company’s stock valued at $41,000 after purchasing an additional 79,169 shares in the last quarter. Alpine Global Management LLC purchased a new stake in shares of Wallbox during the 4th quarter worth $54,000. XTX Topco Ltd acquired a new position in shares of Wallbox during the fourth quarter worth $76,000. Finally, JPMorgan Chase & Co. purchased a new position in Wallbox in the fourth quarter valued at $84,000. Institutional investors and hedge funds own 36.94% of the company’s stock.

About Wallbox

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.