Wallbox (NYSE:WBX) Stock Price Up 0.7% - Here's What Happened

Key Points

• Wallbox shares rose 0.7% to approximately $2.95 in light trading, with volume down 64% from the average session.
• The company reported a quarterly loss of $1.90 per share and revenue of $27.3 million, missing analyst expectations of a $1.81 loss and $41.49 million in revenue.
• Analysts’ consensus rating is “Hold” with a $4.33 price target, while insiders purchased nearly 1.83 million shares worth about $5.0 million over the past 90 days.

Wallbox N.V. (NYSE:WBX - Get Free Report)'s stock price traded up 0.7% on Monday . The stock traded as high as $3.08 and last traded at $2.9510. Approximately 7,407 shares were traded during trading, a decline of 64% from the average session volume of 20,747 shares. The stock had previously closed at $2.93.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on WBX. Weiss Ratings upgraded Wallbox from a "sell (e+)" rating to a "sell (d-)" rating in a report on Thursday, July 30th. Barclays restated an "overweight" rating and set a $4.00 price objective on shares of Wallbox in a research note on Wednesday, July 29th. Finally, UBS Group reiterated a "neutral" rating and issued a $4.00 target price (up from $3.00) on shares of Wallbox in a research note on Tuesday, June 30th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $4.33.

Wallbox Trading Up 0.7%

The stock's fifty day moving average is $3.87 and its two-hundred day moving average is $3.23.

Wallbox (NYSE:WBX - Get Free Report) last issued its quarterly earnings data on Friday, July 31st. The company reported ($1.90) EPS for the quarter, missing analysts' consensus estimates of ($1.81) by ($0.09). Wallbox had a negative return on equity of 6,451.74% and a negative net margin of 70.12%.The firm had revenue of $27.30 million during the quarter, compared to analyst estimates of $41.49 million.

Insiders Place Their Bets

In related news, Director Marc Sabe Richer purchased 501,361 shares of the company's stock in a transaction that occurred on Tuesday, June 30th. The stock was acquired at an average price of $2.72 per share, for a total transaction of $1,363,701.92. Following the completion of the purchase, the director owned 1,512,758 shares in the company, valued at approximately $4,114,701.76. This represents a 49.57% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Enric Asuncion Escorsa purchased 325,885 shares of the business's stock in a transaction that occurred on Tuesday, June 30th. The stock was bought at an average cost of $2.72 per share, for a total transaction of $886,407.20. Following the completion of the acquisition, the chief executive officer directly owned 1,218,952 shares of the company's stock, valued at $3,315,549.44. This represents a 36.49% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have purchased 1,829,968 shares of company stock valued at $4,977,513 over the last 90 days.

Institutional Investors Weigh In On Wallbox

An institutional investor recently bought a new position in Wallbox stock. GM Advisory Group LLC purchased a new position in shares of Wallbox N.V. (NYSE:WBX - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 17,500 shares of the company's stock, valued at approximately $43,000. GM Advisory Group LLC owned about 0.10% of Wallbox as of its most recent filing with the Securities and Exchange Commission (SEC). 36.94% of the stock is currently owned by institutional investors.

About Wallbox

Wallbox is a global provider of electric vehicle (EV) charging solutions, offering hardware and software designed to simplify and optimize the charging experience for residential, commercial and public applications. The company's product lineup includes smart home chargers, DC fast chargers for fleet and commercial use, and energy management systems that integrate with solar panels and battery storage. Through its myWallbox software platform, users can remotely monitor and control charging sessions, track energy consumption and set custom charging schedules.

Headquartered in Barcelona, Spain, Wallbox has expanded its operations across Europe, North America, Asia and Australia, establishing regional offices and service centers to support customers and channel partners.

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