Wallbox (NYSE:WBX) Short Interest Up 27.5% in March

Wallbox (NYSE:WBX) was the target of a significant increase in short interest in the month of March. As of March 15th, there was short interest totalling 2,600,000 shares, an increase of 27.5% from the February 28th total of 2,040,000 shares. Based on an average daily volume of 785,900 shares, the short-interest ratio is presently 3.3 days. Currently, 3.2% of the shares of the company are sold short.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in WBX. JPMorgan Chase & Co. purchased a new stake in shares of Wallbox in the fourth quarter worth about $84,000. XTX Topco Ltd bought a new stake in Wallbox during the 4th quarter worth approximately $76,000. Alpine Global Management LLC purchased a new stake in Wallbox in the 4th quarter worth approximately $54,000. Group One Trading LLC boosted its holdings 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 purchasing an additional 79,169 shares during the period. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of Wallbox during the 4th quarter valued at $32,000. Hedge funds and other institutional investors own 36.94% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on WBX. UBS Group lowered their target price on Wallbox from $1.25 to $0.50 and set a “neutral” rating on the stock in a research note on Monday, January 27th. Chardan Capital raised Wallbox to a “hold” rating in a report on Monday, March 24th. Stifel Nicolaus dropped their price objective on shares of Wallbox from $1.50 to $1.00 and set a “hold” rating on the stock in a report on Monday, March 10th. Finally, Canaccord Genuity Group reduced their target price on shares of Wallbox from $1.50 to $1.00 and set a “buy” rating for the company in a research note on Friday, February 28th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $1.13.

Wallbox Price Performance

Shares of NYSE WBX opened at $0.33 on Tuesday. 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 fifty-two week low of $0.29 and a fifty-two week high of $1.73. The stock has a fifty day moving average of $0.43 and a 200-day moving average of $0.68.

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.