Wallbox (NYSE:WBX) Stock Price Up 2% - Here's What Happened

Key Points

• Wallbox shares rose 2% to $3.06, with trading volume up 75% from its average daily level.
• Analyst views remain mixed but lean toward a consensus “Hold” rating, with an average price target of $4.33; UBS raised its target to $4 while Barclays maintained an overweight rating.
• The company missed quarterly expectations, reporting a $1.90 per-share loss and $27.3 million in revenue versus analysts’ estimates of a $1.81 loss and $41.49 million in revenue. Meanwhile, insiders bought roughly 1.83 million shares worth $5.0 million over the past three months.

Shares of Wallbox N.V. (NYSE:WBX - Get Free Report) were up 2% during trading on Monday . The stock traded as high as $3.22 and last traded at $3.06. Approximately 22,234 shares traded hands during trading, an increase of 75% from the average daily volume of 12,698 shares. The stock had previously closed at $3.00.

Analyst Upgrades and Downgrades

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

Wallbox Stock Performance

The business's 50 day simple moving average is $3.40 and its two-hundred day simple moving average is $3.24.

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

Insider Transactions at Wallbox

In other news, Director Pedro Alonso Aguera purchased 501,361 shares of Wallbox stock in a transaction dated Tuesday, June 30th. The shares were bought at an average cost of $2.72 per share, for a total transaction of $1,363,701.92. Following the completion of the acquisition, the director owned 1,394,705 shares in the company, valued at approximately $3,793,597.60. This trade represents a 56.12% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Francisco Jose Riberas Mera acquired 501,361 shares of the stock in a transaction dated Tuesday, June 30th. The stock was purchased at an average cost of $2.72 per share, with a total value of $1,363,701.92. Following the purchase, the director directly owned 2,539,771 shares of the company's stock, valued at $6,908,177.12. This trade represents a 24.60% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have bought a total of 1,829,968 shares of company stock valued at $4,977,513 over the last three months.

Hedge Funds Weigh In On Wallbox

An institutional investor recently bought a new stake in Wallbox stock. GM Advisory Group LLC purchased a new stake in shares of Wallbox N.V. (NYSE:WBX - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. 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 & Exchange Commission. Hedge funds and other institutional investors own 36.94% of the company's stock.

About Wallbox

Wallbox N.V. is a technology company that develops electric vehicle (EV) charging and energy-management solutions. Its products are designed for residential, commercial, fleet and public-charging applications, helping EV owners and operators manage charging through connected hardware and software.

The company's product portfolio includes AC charging stations such as the Pulsar and Copper families, DC fast-charging systems including Supernova, and bidirectional charging technology such as Quasar.

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