Wallbox (NYSE:WBX) Reaches New 1-Year Low - Here's What Happened

Wallbox N.V. (NYSE:WBX - Get Free Report)'s share price reached a new 52-week low during trading on Thursday . The stock traded as low as $0.29 and last traded at $5.79, with a volume of 873178 shares. The stock had previously closed at $0.32.

Analyst Upgrades and Downgrades

WBX has been the subject of several recent analyst reports. Canaccord Genuity Group reduced their target price on Wallbox from $20.00 to $15.00 and set a "buy" rating for the company in a research 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 target on Wallbox from $30.00 to $20.00 and set a "hold" rating for the company in a research note on Monday, March 10th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Wallbox has a consensus rating of "Hold" and an average price target of $21.25.

Wallbox Price Performance

The business has a 50-day simple moving average of $6.56 and a 200 day simple moving average of $7.92. The company has a current ratio of 0.90, a quick ratio of 0.50 and a debt-to-equity ratio of 1.07.

Institutional Trading of Wallbox

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Larson Financial Group LLC purchased a new stake in shares of Wallbox in the 1st quarter worth approximately $25,000. Alpine Global Management LLC purchased a new stake in Wallbox during the 4th quarter valued at $54,000. Group One Trading LLC boosted its stake in Wallbox by 2,888.3% during 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 last quarter. Cubist Systematic Strategies LLC purchased a new stake in Wallbox during the 4th quarter valued at $32,000. Finally, XTX Topco Ltd purchased a new stake in Wallbox during 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.