Wallbox (NYSE:WBX) Price Target Lowered to $0.40 at UBS Group

Wallbox (NYSE:WBX - Get Free Report) had its price objective decreased by UBS Group from $0.50 to $0.40 in a research note issued on Thursday,Benzinga reports. The firm presently has a "neutral" rating on the stock. UBS Group's price target would suggest a potential upside of 15.24% from the company's previous close.

A number of other equities analysts have also recently commented on WBX. Chardan Capital raised Wallbox to a "hold" rating in a report on Wednesday, May 28th. Canaccord Genuity Group dropped their price target on Wallbox from $1.00 to $0.75 and set a "buy" rating for the company in a research report on Thursday, May 8th. Finally, Stifel Nicolaus decreased their price objective on Wallbox from $1.50 to $1.00 and set a "hold" rating on the stock in a report on Monday, March 10th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $1.04.

Wallbox Trading Down 3.6%

Shares of WBX stock traded down $0.01 on Thursday, reaching $0.35. 3,601,942 shares of the company were exchanged, compared to its average volume of 523,340. Wallbox has a 1 year low of $0.25 and a 1 year high of $1.64. The company has a quick ratio of 0.68, a current ratio of 1.16 and a debt-to-equity ratio of 0.93. The business has a 50-day moving average price of $0.34 and a 200 day moving average price of $0.43.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. acquired a new position in Wallbox in the 4th quarter valued at about $84,000. XTX Topco Ltd acquired a new position in shares of Wallbox in the fourth quarter valued at approximately $76,000. Alpine Global Management LLC acquired a new stake in shares of Wallbox in the fourth quarter valued at $54,000. Group One Trading LLC raised its position in Wallbox by 2,888.3% in the 4th quarter. Group One Trading LLC now owns 81,910 shares of the company's stock valued at $41,000 after purchasing an additional 79,169 shares in the last quarter. Finally, Larson Financial Group LLC purchased a new position in Wallbox in the first quarter worth approximately $25,000. 36.94% of the stock is owned by hedge funds and other 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.