Wallbox (NYSE:WBX) Sees Significant Drop in Short Interest

Wallbox (NYSE:WBX - Get Free Report) was the target of a significant decline in short interest in January. As of January 31st, there was short interest totalling 1,490,000 shares, a decline of 17.2% from the January 15th total of 1,800,000 shares. Based on an average daily volume of 819,400 shares, the days-to-cover ratio is currently 1.8 days. Approximately 1.8% of the shares of the stock are sold short.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Canaccord Genuity Group decreased their price objective on shares of Wallbox from $3.25 to $1.50 and set a "buy" rating on the stock in a research report on Thursday, November 7th. UBS Group decreased their price target on Wallbox from $1.25 to $0.50 and set a "neutral" rating on the stock in a report on Monday, January 27th. Robert W. Baird cut their target price on Wallbox from $3.00 to $2.00 and set an "outperform" rating for the company in a research report on Thursday, November 7th. Finally, Stifel Nicolaus downgraded Wallbox from a "buy" rating to a "hold" rating and decreased their target price for the company from $3.00 to $1.50 in a research note on Wednesday, October 30th.

Hedge Funds Weigh In On Wallbox

Several institutional investors have recently bought and sold shares of WBX. Healthcare of Ontario Pension Plan Trust Fund grew its stake in Wallbox by 12.2% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 211,660 shares of the company's stock worth $258,000 after purchasing an additional 22,948 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of Wallbox during the 4th quarter worth $32,000. Group One Trading LLC increased its stake in shares of Wallbox by 2,888.3% during the fourth quarter. Group One Trading LLC now owns 81,910 shares of the company's stock valued at $41,000 after buying an additional 79,169 shares during the period. Alpine Global Management LLC bought a new stake in shares of Wallbox in the fourth quarter valued at about $54,000. Finally, XTX Topco Ltd bought a new stake in shares of Wallbox in the fourth quarter valued at about $76,000. Institutional investors own 36.94% of the company's stock.

Wallbox Price Performance

NYSE WBX traded down $0.06 on Wednesday, reaching $0.55. The company had a trading volume of 579,273 shares, compared to its average volume of 643,209. The firm's 50 day moving average price is $0.51 and its 200 day moving average price is $0.88. Wallbox has a 12 month low of $0.41 and a 12 month high of $1.73. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.68 and a current ratio of 1.16.

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.