Canaccord Genuity Group Issues Pessimistic Forecast for Wallbox (NYSE:WBX) Stock Price

Wallbox (NYSE:WBX - Get Free Report) had its target price dropped by research analysts at Canaccord Genuity Group from $3.25 to $1.50 in a report released on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Canaccord Genuity Group's target price would indicate a potential upside of 52.67% from the company's previous close.

Other analysts have also recently issued research reports about the company. Stifel Nicolaus cut Wallbox from a "buy" rating to a "hold" rating and decreased their target price for the stock from $3.00 to $1.50 in a report on Wednesday, October 30th. UBS Group lowered their price target 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. Finally, Robert W. Baird decreased their price objective on Wallbox from $3.00 to $2.00 and set an "outperform" rating on the stock in a research report on Thursday.

Wallbox Trading Up 2.8 %

Shares of WBX stock traded up $0.03 during trading hours on Thursday, hitting $0.98. The company had a trading volume of 111,449 shares, compared to its average volume of 395,461. The company has a current ratio of 1.16, a quick ratio of 0.68 and a debt-to-equity ratio of 0.93. The firm's fifty day moving average is $1.14 and its 200 day moving average is $1.33. Wallbox has a 12 month low of $0.82 and a 12 month high of $2.09.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Wallbox stock. J. Stern & Co. LLP purchased a new stake in Wallbox (NYSE:WBX - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 50,000 shares of the company's stock, valued at approximately $66,000. 36.94% of the stock is 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.

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