Short Interest in Wallbox (NYSE:WBX) Grows By 27.5%

Wallbox (NYSE:WBX) saw a large increase in short interest during 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. Approximately 3.2% of the shares of the stock are sold short. Based on an average trading volume of 785,900 shares, the short-interest ratio is presently 3.3 days.

Institutional Trading of Wallbox

Several institutional investors have recently added to or reduced their stakes in WBX. Healthcare of Ontario Pension Plan Trust Fund grew its position in Wallbox by 12.2% in the 3rd 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 during the last quarter. JPMorgan Chase & Co. purchased a new stake in shares of Wallbox during the fourth quarter valued at $84,000. XTX Topco Ltd bought a new position in shares of Wallbox in the fourth quarter worth about $76,000. Alpine Global Management LLC purchased a new position in Wallbox in the 4th quarter worth about $54,000. Finally, Group One Trading LLC lifted its holdings in Wallbox by 2,888.3% during the 4th quarter. Group One Trading LLC now owns 81,910 shares of the company’s stock valued at $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 Wallbox stock traded down $0.01 during trading on Wednesday, hitting $0.33. The stock had a trading volume of 150,664 shares, compared to its average volume of 484,922. Wallbox has a 12 month low of $0.29 and a 12 month high of $1.73. The firm’s fifty day simple moving average is $0.42 and its 200-day simple moving average is $0.67. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.16 and a quick ratio of 0.68.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. UBS Group cut their target price on shares of Wallbox from $1.25 to $0.50 and set a “neutral” rating for the company in a report on Monday, January 27th. 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 report on Monday, March 10th. Canaccord Genuity Group decreased their target price 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, Chardan Capital upgraded Wallbox to a “hold” rating in a research report on Monday, March 24th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Wallbox presently has an average rating of “Hold” and an average price target of $1.13.

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.