Short Interest in Wallbox (NYSE:WBX) Expands By 35.1%

Wallbox (NYSE:WBX) was the recipient of a large increase in short interest in the month of February. As of February 28th, there was short interest totalling 2,040,000 shares, an increase of 35.1% from the February 13th total of 1,510,000 shares. Based on an average daily volume of 818,600 shares, the days-to-cover ratio is currently 2.5 days. Approximately 2.5% of the company’s shares are sold short.

Institutional Investors Weigh In On Wallbox

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of Wallbox by 12.2% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 211,660 shares of the company’s stock valued at $258,000 after acquiring an additional 22,948 shares in the last quarter. JPMorgan Chase & Co. purchased a new position in Wallbox during the 4th quarter worth $84,000. XTX Topco Ltd bought a new stake in Wallbox during the 4th quarter valued at $76,000. Alpine Global Management LLC purchased a new stake in shares of Wallbox in the 4th quarter worth $54,000. Finally, Group One Trading LLC grew its position in shares of Wallbox by 2,888.3% during the 4th quarter. Group One Trading LLC now owns 81,910 shares of the company’s stock worth $41,000 after buying an additional 79,169 shares in the last quarter. Institutional investors own 36.94% of the company’s stock.

Wallbox Stock Performance

Shares of WBX traded up $0.01 during trading hours on Monday, reaching $0.37. 338,468 shares of the company traded hands, compared to its average volume of 506,592. The stock’s fifty day moving average price is $0.47 and its 200 day moving average price is $0.74. The company has a quick ratio of 0.68, a current ratio of 1.16 and a debt-to-equity ratio of 0.93. Wallbox has a 12-month low of $0.34 and a 12-month high of $1.73.

Analyst Ratings Changes

Several brokerages have recently weighed in on WBX. Stifel Nicolaus reduced their target price on shares of Wallbox from $1.50 to $1.00 and set a “hold” rating on the stock in a research note on Monday, March 10th. Canaccord Genuity Group reduced their price objective on shares of Wallbox from $1.50 to $1.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. Finally, UBS Group dropped their target price on Wallbox from $1.25 to $0.50 and set a “neutral” rating for the company in a research report on Monday, January 27th.

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.