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

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

Wall Street Analysts Forecast Growth

WBX has been the subject of a number of recent analyst reports. Stifel Nicolaus dropped their price objective on Wallbox from $1.50 to $1.00 and set a "hold" rating for the company in a research note on Monday, March 10th. Chardan Capital raised Wallbox to a "hold" rating in a research note on Wednesday, May 28th. Finally, Canaccord Genuity Group dropped their price objective on Wallbox from $1.00 to $0.75 and set a "buy" rating for the company in a research note on Thursday, May 8th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Wallbox presently has an average rating of "Hold" and a consensus price target of $1.06.

Wallbox Price Performance

The business has a 50 day moving average price of $0.34 and a two-hundred day moving average price of $0.42. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.90 and a quick ratio of 0.50.

Hedge Funds Weigh In On Wallbox

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC bought a new position in Wallbox during the fourth quarter valued at approximately $32,000. Larson Financial Group LLC bought a new position in Wallbox during the first quarter valued at approximately $25,000. Group One Trading LLC boosted its stake 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 buying an additional 79,169 shares during the last quarter. Alpine Global Management LLC bought a new position in Wallbox during the fourth quarter valued at approximately $54,000. Finally, XTX Topco Ltd bought a new position in Wallbox during the fourth quarter valued at approximately $76,000. 36.94% of the stock is owned by 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.

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