Wallbox (NYSE:WBX) Given New $7.00 Price Target at Barclays

Wallbox (NYSE:WBX - Get Free Report) had its price objective raised by equities researchers at Barclays to $7.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Barclays's price target would indicate a potential upside of 12.45% from the stock's previous close.

A number of other equities research analysts also recently commented on WBX. Chardan Capital raised Wallbox to a "hold" rating in a research report on Wednesday, May 28th. Canaccord Genuity Group lowered their price objective on Wallbox from $20.00 to $15.00 and set a "buy" rating for the company in a research report on Thursday, May 8th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Wallbox currently has an average rating of "Moderate Buy" and a consensus target price of $18.40.

Wallbox Price Performance

Wallbox stock traded down $0.26 during mid-day trading on Thursday, hitting $6.23. 16,175 shares of the company were exchanged, compared to its average volume of 26,006. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.50 and a current ratio of 0.90. The business's 50 day simple moving average is $6.30 and its two-hundred day simple moving average is $7.55. Wallbox has a 12-month low of $4.60 and a 12-month high of $32.80.

Institutional Investors Weigh In On Wallbox

Institutional investors have recently added to or reduced their stakes in the company. Larson Financial Group LLC purchased a new stake in Wallbox during the first quarter valued at about $25,000. Cubist Systematic Strategies LLC purchased a new stake in Wallbox during the fourth quarter valued at about $32,000. Group One Trading LLC grew 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 valued at $41,000 after acquiring an additional 79,169 shares during the period. Alpine Global Management LLC purchased a new stake in Wallbox during the fourth quarter valued at about $54,000. Finally, XTX Topco Ltd purchased a new position in shares of Wallbox in the 4th quarter valued at $76,000. Hedge funds and other institutional investors own 36.94% of the company's stock.

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.