Wallbox (NYSE:WBX) Price Target Cut to $9.00 by Analysts at Canaccord Genuity Group

Key Points

• Analysts at Canaccord Genuity Group have cut Wallbox's price target from $15.00 to $9.00, while maintaining a "buy" rating on the stock, indicating a potential upside of 84.96%.
• The consensus rating for Wallbox is currently a "Moderate Buy", with an average target price of $17.20, despite mixed analyst opinions on the stock.
• Recent trading shows Wallbox stock at $4.87, having experienced a one-year low of $4.60 and a high of $31.80, reflecting significant volatility.

Wallbox (NYSE:WBX - Get Free Report) had its price target decreased by analysts at Canaccord Genuity Group from $15.00 to $9.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a "buy" rating on the stock. Canaccord Genuity Group's target price would indicate a potential upside of 84.96% from the company's current price.

WBX has been the subject of several other reports. Chardan Capital raised shares of Wallbox to a "hold" rating in a report on Wednesday, May 28th. Barclays lifted their price objective on shares of Wallbox to $7.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $17.20.

Wallbox Stock Performance

NYSE:WBX traded down $0.30 during trading hours on Friday, hitting $4.87. The stock had a trading volume of 35,488 shares, compared to its average volume of 25,975. The company has a 50 day simple moving average of $6.29 and a two-hundred day simple moving average of $7.35. The company has a quick ratio of 0.50, a current ratio of 0.90 and a debt-to-equity ratio of 1.07. Wallbox has a one year low of $4.60 and a one year high of $31.80.

Hedge Funds Weigh In On Wallbox

Institutional investors and hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. bought a new stake in shares of Wallbox in the 4th quarter valued at about $84,000. XTX Topco Ltd purchased a new stake in shares of Wallbox in the 4th quarter valued at $76,000. Alpine Global Management LLC purchased a new stake in shares of Wallbox in the 4th quarter valued at $54,000. Cubist Systematic Strategies LLC acquired a new position in shares of Wallbox in the 4th quarter valued at $32,000. Finally, Group One Trading LLC raised its position in Wallbox by 2,888.3% during the fourth 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 during the period. 36.94% of the stock is owned by hedge funds and other institutional investors.

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.

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