Wallbox (NYSE:WBX) Lowered to "Hold" Rating by Stifel Nicolaus

Stifel Nicolaus cut shares of Wallbox (NYSE:WBX - Free Report) from a buy rating to a hold rating in a research note published on Wednesday, Marketbeat reports. They currently have $1.50 price target on the stock, down from their prior price target of $3.00.

WBX has been the subject of a number of other research reports. Canaccord Genuity Group decreased their price target on shares of Wallbox from $4.00 to $3.25 and set a "buy" rating for the company in a research note on Tuesday, July 9th. UBS Group cut their price target on Wallbox from $1.75 to $1.25 and set a "neutral" rating for the company in a research note on Tuesday, October 15th.

Wallbox Price Performance

WBX stock traded up $0.00 during midday trading on Wednesday, hitting $0.96. The stock had a trading volume of 77,798 shares, compared to its average volume of 391,870. The business has a fifty day moving average price of $1.21 and a two-hundred day moving average price of $1.34. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.16 and a quick ratio of 0.68. Wallbox has a 1-year low of $0.82 and a 1-year high of $2.09.

Institutional Investors Weigh In On Wallbox

A hedge fund recently raised its stake in Wallbox stock. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Wallbox (NYSE:WBX - Free Report) by 23.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 198,863 shares of the company's stock after acquiring an additional 38,249 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.12% of Wallbox worth $282,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 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.