Wallbox (NYSE:WBX) Downgraded to Hold Rating by Stifel Nicolaus

Stifel Nicolaus downgraded shares of Wallbox (NYSE:WBX) from a buy rating to a hold rating in a research note issued to investors on Wednesday morning, Marketbeat reports. The firm currently has $1.50 target price on the stock, down from their previous target price of $3.00.

Other research analysts have also issued research reports about the stock. UBS Group decreased their target price on shares of Wallbox from $1.75 to $1.25 and set a “neutral” rating on the stock in a research report on Tuesday, October 15th. Canaccord Genuity Group decreased their target price on shares of Wallbox from $4.00 to $3.25 and set a “buy” rating on the stock in a research report on Tuesday, July 9th.

Wallbox Trading Down 0.9 %

Shares of NYSE:WBX opened at $0.95 on Wednesday. The company’s 50 day moving average price is $1.21 and its two-hundred day moving average price is $1.34. Wallbox has a 12-month low of $0.82 and a 12-month high of $2.09. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.68 and a current ratio of 1.16.

Institutional Trading of Wallbox

A hedge fund recently raised its stake in Wallbox stock. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Wallbox (NYSE:WBX) by 23.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 198,863 shares of the company’s stock after acquiring an additional 38,249 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.12% of Wallbox worth $282,000 as of its most recent filing with the Securities and Exchange Commission. 36.94% of the stock is currently owned by institutional investors and hedge funds.

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.