Wallbox (NYSE:WBX) Price Target Cut to $1.00 by Analysts at Canaccord Genuity Group

Wallbox (NYSE:WBX) had its price objective reduced by Canaccord Genuity Group from $1.50 to $1.00 in a research note issued to investors on Friday,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

Other analysts have also issued research reports about the stock. Robert W. Baird decreased their price target on shares of Wallbox from $3.00 to $2.00 and set an “outperform” rating for the company in a research note on Thursday, November 7th. UBS Group lowered their price target on shares of Wallbox from $1.25 to $0.50 and set a “neutral” rating on the stock in a report on Monday, January 27th.

Wallbox Stock Performance

Shares of NYSE WBX opened at $0.44 on Friday. Wallbox has a 52-week low of $0.41 and a 52-week high of $1.73. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.68 and a current ratio of 1.16. The company’s 50 day moving average price is $0.51 and its 200-day moving average price is $0.84.

Institutional Investors Weigh In On Wallbox

Several institutional investors have recently added to or reduced their stakes in WBX. Cubist Systematic Strategies LLC acquired a new stake in Wallbox in the fourth quarter worth about $32,000. Group One Trading LLC raised its stake in shares of Wallbox by 2,888.3% in the fourth quarter. Group One Trading LLC now owns 81,910 shares of the company’s stock worth $41,000 after purchasing an additional 79,169 shares during the last quarter. Alpine Global Management LLC purchased a new position in shares of Wallbox in the fourth quarter worth about $54,000. XTX Topco Ltd purchased a new position in Wallbox during the fourth quarter valued at approximately $76,000. Finally, JPMorgan Chase & Co. purchased a new position in Wallbox during the fourth quarter valued at approximately $84,000. 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.