Stifel Nicolaus Issues Pessimistic Forecast for Wallbox (NYSE:WBX) Stock Price

Wallbox (NYSE:WBX - Free Report) had its target price reduced by Stifel Nicolaus from $1.50 to $1.00 in a research note published on Monday morning, Marketbeat Ratings reports. Stifel Nicolaus currently has a hold rating on the stock.

Several other equities analysts have also issued reports on the company. UBS Group decreased their price objective on Wallbox from $1.25 to $0.50 and set a "neutral" rating for the company in a research report on Monday, January 27th. Canaccord Genuity Group reduced their price target on Wallbox from $1.50 to $1.00 and set a "buy" rating for the company in a research report on Friday, February 28th.

Wallbox Trading Down 0.6 %

Shares of Wallbox stock traded down $0.00 during trading on Monday, hitting $0.35. 117,327 shares of the company were exchanged, compared to its average volume of 675,147. Wallbox has a 1-year low of $0.34 and a 1-year high of $1.73. The firm's fifty day moving average price is $0.49 and its 200 day moving average price is $0.77. 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 Trading of Wallbox

Several hedge funds and other institutional investors have recently modified their holdings of WBX. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Wallbox by 12.2% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 211,660 shares of the company's stock worth $258,000 after acquiring an additional 22,948 shares during the period. Cubist Systematic Strategies LLC acquired a new position in shares of Wallbox in the fourth quarter valued at approximately $32,000. Group One Trading LLC grew its position in shares of Wallbox by 2,888.3% in the fourth 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 during the last quarter. Alpine Global Management LLC acquired a new position in shares of Wallbox in the fourth quarter valued at approximately $54,000. Finally, XTX Topco Ltd acquired a new position in shares of Wallbox in the fourth quarter valued at approximately $76,000. Institutional investors own 36.94% of the company's stock.

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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.