Wallbox (NYSE:WBX - Get Rating) had its price target decreased by equities research analysts at Credit Suisse Group from $10.00 to $9.00 in a report released on Friday, Benzinga reports. The firm presently has an "outperform" rating on the stock. Credit Suisse Group's target price indicates a potential upside of 116.35% from the company's previous close.
Other equities research analysts have also issued reports about the stock. Robert W. Baird decreased their target price on shares of Wallbox from $14.00 to $11.00 in a research report on Thursday, March 2nd. Chardan Capital lowered their target price on shares of Wallbox from $13.00 to $12.00 and set a "buy" rating on the stock in a research report on Friday, February 24th. Northland Securities assumed coverage on shares of Wallbox in a research report on Tuesday, November 22nd. They set an "outperform" rating and a $16.00 price target for the company. Finally, UBS Group lowered their price target on Wallbox from $14.00 to $7.00 and set a "buy" rating on the stock in a report on Tuesday, January 10th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $13.09.
Wallbox Trading Down 4.4 %
Shares of Wallbox stock traded down $0.19 during trading on Friday, reaching $4.16. The company's stock had a trading volume of 397,545 shares, compared to its average volume of 570,784. The business has a 50 day moving average price of $5.25 and a 200-day moving average price of $5.96. Wallbox has a 12-month low of $3.14 and a 12-month high of $14.00. The company has a quick ratio of 1.24, a current ratio of 1.61 and a debt-to-equity ratio of 0.15.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its stake in shares of Wallbox by 646.9% during the 1st quarter. JPMorgan Chase & Co. now owns 121,909 shares of the company's stock worth $1,554,000 after purchasing an additional 105,586 shares during the last quarter. First Trust Advisors LP purchased a new position in Wallbox during the first quarter worth approximately $12,279,000. Prelude Capital Management LLC boosted its holdings in shares of Wallbox by 13.7% in the 1st quarter. Prelude Capital Management LLC now owns 45,431 shares of the company's stock valued at $579,000 after purchasing an additional 5,470 shares during the last quarter. Goldman Sachs Group Inc. purchased a new stake in shares of Wallbox during the 1st quarter valued at $237,000. Finally, Polar Capital Holdings Plc acquired a new stake in shares of Wallbox during the 1st quarter worth $323,000. Institutional investors and hedge funds own 5.31% of the company's stock.
Wallbox N.V., a technology company, designs, manufactures, and distributes charging solutions for residential, business, and public use. The company operates in three segments: Europe-Middle East Asia, North America, and Asia-Pacific. It offers EV charging hardware products, such as Pulsar Plus, an AC smart charger for home or multi-family residence; 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, a DC bi-directional charger for home-use that allows to charge and discharge electric vehicle, and enables to use car battery to power home or sell energy back to the grid; 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.
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