Wallbox (NYSE:WBX) Trading Up 8% – What’s Next?

Shares of Wallbox (NYSE:WBX) traded up 8% during trading on Wednesday . The company traded as high as $0.56 and last traded at $0.56. 674,783 shares changed hands during mid-day trading, a decline of 52% from the average session volume of 1,403,248 shares. The stock had previously closed at $0.52.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. UBS Group reduced their target price on shares of Wallbox from $1.75 to $1.25 and set a “neutral” rating for the company in a report on Tuesday, October 15th. Robert W. Baird decreased their price objective on Wallbox from $3.00 to $2.00 and set an “outperform” rating for the company in a report on Thursday, November 7th. Stifel Nicolaus downgraded Wallbox from a “buy” rating to a “hold” rating and lowered their target price for the company from $3.00 to $1.50 in a research report on Wednesday, October 30th. Finally, Canaccord Genuity Group reduced their price target on Wallbox from $3.25 to $1.50 and set a “buy” rating for the company in a research report on Thursday, November 7th.

Wallbox Stock Up 1.2 %

The business’s 50 day simple moving average is $0.59 and its 200 day simple moving average is $1.03. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.16 and a quick ratio of 0.68.

Institutional Investors Weigh In On Wallbox

An institutional investor recently bought a new position in Wallbox stock. J. Stern & Co. LLP acquired a new stake in Wallbox (NYSE:WBX) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 50,000 shares of the company’s stock, valued at approximately $66,000. 36.94% of the stock is currently owned by institutional investors and hedge funds.

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.