Robert W. Baird Cuts Wallbox (NYSE:WBX) Price Target to $2.00

Wallbox (NYSE:WBX) had its price objective lowered by Robert W. Baird from $3.00 to $2.00 in a report released on Thursday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

A number of other equities research analysts also recently issued reports on the stock. UBS Group decreased their price target on shares of Wallbox from $1.75 to $1.25 and set a “neutral” rating on the stock in a research note on Tuesday, October 15th. Stifel Nicolaus downgraded Wallbox from a “buy” rating to a “hold” rating and decreased their target price for the stock from $3.00 to $1.50 in a research report on Wednesday, October 30th.

Wallbox Price Performance

NYSE:WBX opened at $0.89 on Thursday. The business’s 50-day moving average is $1.12 and its 200 day moving average is $1.32. 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 12 month low of $0.82 and a 12 month high of $2.09.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Wallbox stock. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Wallbox (NYSE:WBX) by 23.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 198,863 shares of the company’s stock after buying an additional 38,249 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.12% of Wallbox worth $282,000 as of its most recent SEC filing. 36.94% of the stock is 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.