Canaccord Genuity Group Trims Wallbox (NYSE:WBX) Target Price to $4.00

Wallbox (NYSE:WBX - Get Free Report) had its price target lowered by analysts at Canaccord Genuity Group from $5.00 to $4.00 in a report released on Friday, Benzinga reports. The brokerage currently has a "buy" rating on the stock. Canaccord Genuity Group's price target indicates a potential upside of 181.69% from the company's previous close.

Wallbox Stock Down 5.3 %

NYSE:WBX traded down $0.08 during trading hours on Friday, hitting $1.42. The company had a trading volume of 438,604 shares, compared to its average volume of 499,693. The stock has a 50-day moving average price of $1.45 and a 200 day moving average price of $1.55. Wallbox has a 52 week low of $1.21 and a 52 week high of $5.10. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.86 and a current ratio of 1.35.

Hedge Funds Weigh In On Wallbox

A number of hedge funds have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Wallbox by 948.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,847 shares of the company's stock valued at $39,000 after purchasing an additional 16,144 shares during the period. Aristides Capital LLC acquired a new stake in Wallbox during the 4th quarter valued at $125,000. Kestra Advisory Services LLC purchased a new position in Wallbox during the third quarter worth $236,000. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Wallbox by 25.5% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 146,405 shares of the company's stock valued at $329,000 after acquiring an additional 29,794 shares in the last quarter. Finally, Autonomy Capital Jersey L.P. increased its position in Wallbox by 9.8% during the 3rd quarter. Autonomy Capital Jersey L.P. now owns 175,652 shares of the company's stock worth $395,000 after purchasing an additional 15,721 shares in the last quarter. 36.94% of the stock is currently owned by institutional investors.

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.

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