Wallbox (NYSE:WBX) Price Target Lowered to $0.75 at Canaccord Genuity Group

Wallbox (NYSE:WBX) had its price objective dropped by equities researchers at Canaccord Genuity Group from $1.00 to $0.75 in a report released on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s target price would indicate a potential upside of 112.52% from the company’s current price.

A number of other analysts have also issued reports on WBX. Stifel Nicolaus decreased their price objective on Wallbox from $1.50 to $1.00 and set a “hold” rating on the stock in a research note on Monday, March 10th. 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. Finally, Chardan Capital raised shares of Wallbox to a “hold” rating in a research note on Tuesday, April 29th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $1.06.

Wallbox Stock Down 2.0 %

Wallbox stock opened at $0.35 on Thursday. The firm has a 50 day simple moving average of $0.34 and a 200 day simple moving average of $0.51. The company has a current ratio of 1.16, a quick ratio of 0.68 and a debt-to-equity ratio of 0.93. Wallbox has a 1-year low of $0.25 and a 1-year high of $1.64.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Larson Financial Group LLC purchased a new position in Wallbox in the 1st quarter worth approximately $25,000. Cubist Systematic Strategies LLC bought a new stake in shares of Wallbox during the 4th quarter worth $32,000. Group One Trading LLC grew its position in 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 acquiring an additional 79,169 shares in the last quarter. Alpine Global Management LLC bought a new position in Wallbox in the fourth quarter valued at $54,000. Finally, XTX Topco Ltd bought a new stake in Wallbox during the fourth quarter worth about $76,000. 36.94% of the stock is currently 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.