Wallbox (NYSE:WBX) Stock Price Down 2.5% - Time to Sell?

Wallbox N.V. (NYSE:WBX - Get Free Report)'s stock price traded down 2.5% during mid-day trading on Friday . The company traded as low as $0.30 and last traded at $0.31. 386,459 shares traded hands during mid-day trading, a decline of 27% from the average session volume of 527,310 shares. The stock had previously closed at $0.32.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Canaccord Genuity Group cut their price target on Wallbox from $1.00 to $0.75 and set a "buy" rating for the company in a research note on Thursday, May 8th. Chardan Capital upgraded Wallbox to a "hold" rating in a research report on Wednesday, May 28th. Finally, Stifel Nicolaus decreased their target price on Wallbox from $1.50 to $1.00 and set a "hold" rating on the stock in a research report 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 company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $1.06.

Wallbox Stock Performance

The company has a fifty day moving average of $0.34 and a 200-day moving average of $0.41. 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 large investors have recently made changes to their positions in the company. JPMorgan Chase & Co. purchased a new stake in shares of Wallbox in the fourth quarter valued at approximately $84,000. XTX Topco Ltd purchased a new stake in Wallbox in the fourth quarter valued at approximately $76,000. Alpine Global Management LLC acquired a new position in Wallbox during the 4th quarter worth about $54,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Wallbox during the fourth quarter worth about $32,000. Finally, Group One Trading LLC boosted its position in 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 buying an additional 79,169 shares during the period. 36.94% of the stock is currently owned by hedge funds and other institutional investors.

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.