Wallbox N.V. (NYSE:WBX) Short Interest Down 69.5% in June

Key Points

• Short interest in Wallbox plunged 69.5% in June, falling to 110,672 shares by June 30 from 363,149 shares two weeks earlier. That leaves about 1.0% of the float short, with a short-interest ratio of 1.1 days.
• Company insiders have been aggressive buyers, including CEO Enric Asuncion Escorsa and Director Francisco Jose Riberas Mera, both of whom made large share purchases on June 30. Over the past three months, insiders bought 1.83 million shares worth nearly $5.0 million.
• Wallbox reported mixed quarterly results, beating EPS expectations with a loss of $1.31 per share versus the expected $1.81 loss, but missing revenue estimates at $34.38 million. UBS recently reaffirmed a neutral rating and lifted its price target to $4.00, while the stock was trading at $5.47 in Friday’s session.

Wallbox N.V. (NYSE:WBX - Get Free Report) was the recipient of a significant decrease in short interest in the month of June. As of June 30th, there was short interest totaling 110,672 shares, a decrease of 69.5% from the June 15th total of 363,149 shares. Approximately 1.0% of the shares of the stock are short sold. Based on an average trading volume of 101,768 shares, the short-interest ratio is presently 1.1 days.

Insiders Place Their Bets

In related news, CEO Enric Asuncion Escorsa acquired 325,885 shares of Wallbox stock in a transaction dated Tuesday, June 30th. The shares were purchased at an average price of $2.72 per share, for a total transaction of $886,407.20. Following the completion of the transaction, the chief executive officer directly owned 1,218,952 shares in the company, valued at approximately $3,315,549.44. This represents a 36.49% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Francisco Jose Riberas Mera bought 501,361 shares of the stock in a transaction dated Tuesday, June 30th. The stock was bought at an average cost of $2.72 per share, for a total transaction of $1,363,701.92. Following the acquisition, the director directly owned 2,539,771 shares of the company's stock, valued at approximately $6,908,177.12. This represents a 24.60% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders have bought 1,829,968 shares of company stock worth $4,977,513. Company insiders own 33.33% of the company's stock.

Institutional Investors Weigh In On Wallbox

A hedge fund recently bought a new stake in Wallbox stock. GM Advisory Group LLC acquired a new stake in shares of Wallbox N.V. (NYSE:WBX - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 17,500 shares of the company's stock, valued at approximately $43,000. GM Advisory Group LLC owned 0.10% of Wallbox as of its most recent SEC filing. 36.94% of the stock is currently owned by institutional investors.

Wallbox Stock Performance

NYSE:WBX traded down $0.01 during midday trading on Friday, hitting $5.47. 30,487 shares of the company traded hands, compared to its average volume of 135,955. The firm's fifty day moving average is $3.37 and its 200-day moving average is $3.06. Wallbox has a 12-month low of $2.30 and a 12-month high of $7.83.

Wallbox (NYSE:WBX - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported ($1.31) EPS for the quarter, topping analysts' consensus estimates of ($1.81) by $0.50. The firm had revenue of $34.38 million during the quarter, compared to analysts' expectations of $40.64 million. Wallbox had a negative net margin of 70.12% and a negative return on equity of 6,451.74%.

Wall Street Analyst Weigh In

Separately, UBS Group reaffirmed a "neutral" rating and set a $4.00 price target (up from $3.00) on shares of Wallbox in a research note on Tuesday, June 30th. Two equities research 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. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $5.33.

Wallbox Company Profile

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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