Wallbox (NYSE:WBX) Sets New 12-Month Low - What's Next?

Shares of Wallbox N.V. (NYSE:WBX - Get Free Report) hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $0.29 and last traded at $5.79, with a volume of 873178 shares changing hands. The stock had previously closed at $0.32.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Canaccord Genuity Group lowered their target price on shares of Wallbox from $20.00 to $15.00 and set a "buy" rating for the company in a report on Thursday, May 8th. Chardan Capital raised Wallbox to a "hold" rating in a research note on Wednesday, May 28th. Finally, Stifel Nicolaus dropped their price objective on Wallbox from $30.00 to $20.00 and set a "hold" rating for the company in a report on Monday, March 10th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $21.25.

Wallbox Trading Down 5.3%

The company's fifty day simple moving average is $6.59 and its two-hundred day simple moving average is $7.97. The company has a quick ratio of 0.50, a current ratio of 0.90 and a debt-to-equity ratio of 1.07.

Institutional Trading of Wallbox

Several hedge funds have recently added to or reduced their stakes in the business. Larson Financial Group LLC acquired a new position in Wallbox in the first quarter valued at about $25,000. Alpine Global Management LLC bought a new position in shares of Wallbox during the 4th quarter valued at about $54,000. Group One Trading LLC grew its position in shares of Wallbox by 2,888.3% in the 4th quarter. Group One Trading LLC now owns 81,910 shares of the company's stock valued at $41,000 after purchasing an additional 79,169 shares during the period. Cubist Systematic Strategies LLC bought a new stake in Wallbox during the 4th quarter worth approximately $32,000. Finally, XTX Topco Ltd acquired a new stake in Wallbox during the 4th quarter worth approximately $76,000. Institutional investors and hedge funds 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.