Wallbox's (WBX) Sell (E+) Rating Reiterated at Weiss Ratings

Key Points

• Wallbox's stock has been given a "sell (e+)" rating by Weiss Ratings, indicating a negative outlook from analysts.
• Several firms have issued varying target prices for Wallbox, with Canaccord Genuity lowering it to $9.00, while Barclays set it at $7.00, with a consensus rating of "Hold".
• Despite recent downgrades, Wallbox's stock rose 13.5% to $7.19 on the trading day, with increased interest from institutional investors.

Wallbox (NYSE:WBX - Get Free Report)'s stock had its "sell (e+)" rating restated by stock analysts at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

WBX has been the subject of several other research reports. Canaccord Genuity Group lowered their target price on shares of Wallbox from $15.00 to $9.00 and set a "buy" rating for the company in a report on Friday, August 1st. Barclays increased their price target on shares of Wallbox to $7.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Finally, UBS Group reiterated a "neutral" rating and set a $6.00 price target (down previously from $8.00) on shares of Wallbox in a research note on Monday, August 4th. Three analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $16.40.

Wallbox Stock Up 13.5%

WBX traded up $0.86 during trading hours on Wednesday, hitting $7.19. 148,370 shares of the company's stock were exchanged, compared to its average volume of 25,898. Wallbox has a 12-month low of $3.69 and a 12-month high of $23.80. The firm has a 50 day moving average of $4.46 and a 200 day moving average of $5.79. The company has a debt-to-equity ratio of 2.21, a current ratio of 0.89 and a quick ratio of 0.52.

Institutional Investors Weigh In On Wallbox

A hedge fund recently bought a new stake in Wallbox stock. Larson Financial Group LLC purchased a new position in shares of Wallbox N.V. (NYSE:WBX - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 75,000 shares of the company's stock, valued at approximately $25,000. 36.94% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.