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

Wallbox (NYSE:WBX - Get Free Report) was the target of a large drop in short interest in March. As of March 31st, there was short interest totalling 2,180,000 shares, a drop of 16.2% from the March 15th total of 2,600,000 shares. Based on an average daily volume of 536,400 shares, the short-interest ratio is presently 4.1 days. Approximately 2.7% of the company's stock are sold short.

Institutional Trading of Wallbox

Several hedge funds have recently made changes to their positions in WBX. JPMorgan Chase & Co. purchased a new stake in Wallbox in the 4th quarter worth about $84,000. XTX Topco Ltd bought a new position in Wallbox in the 4th quarter valued at $76,000. Alpine Global Management LLC bought a new stake in shares of Wallbox during the fourth quarter worth $54,000. Cubist Systematic Strategies LLC bought a new position in shares of Wallbox in the fourth quarter worth about $32,000. Finally, Group One Trading LLC increased its stake in Wallbox by 2,888.3% in the 4th quarter. Group One Trading LLC now owns 81,910 shares of the company's stock worth $41,000 after buying an additional 79,169 shares during the period. 36.94% of the stock is currently owned by hedge funds and other institutional investors.

Wallbox Trading Down 6.6 %

NYSE:WBX traded down $0.03 during trading hours on Friday, reaching $0.36. The stock had a trading volume of 142,692 shares, compared to its average volume of 487,687. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.68 and a current ratio of 1.16. Wallbox has a 52 week low of $0.25 and a 52 week high of $1.64. The company has a 50 day moving average price of $0.37 and a two-hundred day moving average price of $0.57.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on WBX. Stifel Nicolaus lowered their price target on Wallbox from $1.50 to $1.00 and set a "hold" rating on the stock in a report on Monday, March 10th. Canaccord Genuity Group reduced their price target on shares of Wallbox from $1.50 to $1.00 and set a "buy" rating for the company in a research note on Friday, February 28th. Chardan Capital upgraded Wallbox to a "hold" rating in a research note on Monday, March 24th. Finally, UBS Group lowered their target price on shares of Wallbox from $1.25 to $0.50 and set a "neutral" rating on the stock in a research note on Monday, January 27th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $1.13.

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.