Wallbox (NYSE:WBX) Receives "Sell (E+)" Rating from Weiss Ratings

Key Points

• Wallbox's stock has received a "sell (e+)" rating from Weiss Ratings, reflecting a negative outlook from equities researchers.
• Several analysts have revised their price targets for Wallbox, with Canaccord Genuity lowering it from $15.00 to $9.00, while UBS set a new target of $6.00.
• The current average rating for Wallbox stock is "Hold," with a consensus target price of $16.40, despite it trading at $4.90 recently.

Wallbox (NYSE:WBX - Get Free Report)'s stock had its "sell (e+)" rating reiterated by equities researchers at Weiss Ratings in a report released on Friday,Weiss Ratings reports.

WBX has been the topic of several other research reports. Canaccord Genuity Group cut their price target on Wallbox from $15.00 to $9.00 and set a "buy" rating on the stock in a research note on Friday, August 1st. UBS Group reissued a "neutral" rating and set a $6.00 target price (down previously from $8.00) on shares of Wallbox in a research report on Monday, August 4th. Finally, Barclays upped their price target on shares of Wallbox to $7.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Three investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $16.40.

Wallbox Price Performance

Shares of NYSE WBX traded down $0.09 during trading hours on Friday, reaching $4.90. The stock had a trading volume of 25,236 shares, compared to its average volume of 27,191. The business's fifty day moving average price is $4.82 and its two-hundred day moving average price is $5.77. Wallbox has a 52-week low of $3.69 and a 52-week high of $21.20. The company has a quick ratio of 0.52, a current ratio of 0.89 and a debt-to-equity ratio of 2.21.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Wallbox stock. Larson Financial Group LLC bought 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 Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 75,000 shares of the company's stock, valued at approximately $25,000. 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.

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