UBS Group Reaffirms "Neutral" Rating for Wallbox (NYSE:WBX)

Key Points

• UBS Group has reduced its target price for Wallbox (NYSE:WBX) from $8.00 to $6.00, maintaining a "neutral" rating, suggesting a potential upside of 20.72% from the current price.
• Other analysts have also downgraded their price targets, with Canaccord Genuity lowering its target from $15.00 to $9.00 and Barclays increasing its target to $7.00, indicating a mix of ratings with three holds and three buy ratings across different firms.
• Wallbox's stock performance has seen fluctuations, trading at $4.97 recently, with a twelve-month low of $4.60 and a high of $31.80.

Wallbox (NYSE:WBX - Get Free Report)'s stock had its "neutral" rating reaffirmed by research analysts at UBS Group in a research note issued to investors on Monday, Marketbeat Ratings reports. They currently have a $6.00 price target on the stock, down from their previous price target of $8.00. UBS Group's target price would suggest a potential upside of 39.86% from the company's current price.

A number of other equities research analysts have also issued reports on WBX. Chardan Capital raised Wallbox to a "hold" rating in a research report on Wednesday, May 28th. Canaccord Genuity Group cut their target price on Wallbox from $15.00 to $9.00 and set a "buy" rating on the stock in a research report on Friday, August 1st. Finally, Barclays boosted their target price on Wallbox to $7.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $16.40.

Wallbox Stock Down 7.5%

WBX stock traded down $0.35 during trading on Monday, reaching $4.29. 32,504 shares of the company's stock were exchanged, compared to its average volume of 26,071. The company has a current ratio of 0.90, a quick ratio of 0.50 and a debt-to-equity ratio of 1.07. Wallbox has a 1-year low of $4.21 and a 1-year high of $31.80. The company's fifty day moving average price is $6.19 and its 200-day moving average price is $7.19.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. purchased a new position in Wallbox in the fourth quarter valued at about $84,000. Group One Trading LLC boosted its stake in shares of Wallbox by 2,888.3% during the 4th quarter. Group One Trading LLC now owns 81,910 shares of the company's stock worth $41,000 after acquiring an additional 79,169 shares in the last quarter. Alpine Global Management LLC bought a new stake in shares of Wallbox during the 4th quarter worth about $54,000. Cubist Systematic Strategies LLC bought a new stake in shares of Wallbox during the 4th quarter worth about $32,000. Finally, XTX Topco Ltd bought a new stake in shares of Wallbox during the 4th quarter worth about $76,000. Hedge funds and other institutional investors own 36.94% of the company's stock.

Wallbox Company Profile

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.