Wallbox (NYSE:WBX) Stock Price Up 12.2% – Still a Buy?

Wallbox N.V. (NYSE:WBX)’s stock price rose 12.2% during trading on Friday . The company traded as high as $5.42 and last traded at $5.14. Approximately 62,680 shares were traded during mid-day trading, an increase of 245% from the average daily volume of 18,193 shares. The stock had previously closed at $4.58.

Wall Street Analysts Forecast Growth

WBX has been the subject of a number of analyst reports. Barclays increased their price target on shares of Wallbox to $7.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. UBS Group reissued a “neutral” rating and issued a $6.00 price objective (down from $8.00) on shares of Wallbox in a research report on Monday, August 4th. Canaccord Genuity Group reduced their price objective on shares of Wallbox from $15.00 to $9.00 and set a “buy” rating on the stock in a research report on Friday, August 1st. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Wallbox in a research report on Saturday, September 27th. Three analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $16.40.

Wallbox Stock Performance

The stock’s 50-day moving average price is $4.45 and its 200 day moving average price is $5.81. The company has a debt-to-equity ratio of 2.21, a quick ratio of 0.52 and a current ratio of 0.89.

Hedge Funds Weigh In On Wallbox

An institutional investor recently bought a new position in Wallbox stock. Larson Financial Group LLC acquired a new stake in shares of Wallbox N.V. (NYSE:WBX) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 75,000 shares of the company’s stock, valued at approximately $25,000. 36.94% of the stock is currently owned by hedge funds and other institutional investors.

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.