Stifel Nicolaus Cuts Wallbox (NYSE:WBX) Price Target to $1.00

Wallbox (NYSE:WBX) had its target price decreased by Stifel Nicolaus from $1.50 to $1.00 in a report released on Monday morning, Marketbeat.com reports. Stifel Nicolaus currently has a hold rating on the stock.

A number of other equities research analysts have also recently weighed in on the company. Canaccord Genuity Group lowered their price target on Wallbox from $1.50 to $1.00 and set a “buy” rating on the stock in a report on Friday, February 28th. UBS Group lowered their target price on Wallbox from $1.25 to $0.50 and set a “neutral” rating on the stock in a report on Monday, January 27th.

Wallbox Price Performance

Shares of WBX opened at $0.36 on Monday. The firm’s 50-day moving average is $0.49 and its two-hundred day moving average is $0.77. Wallbox has a twelve month low of $0.34 and a twelve month high of $1.73. 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 Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Cubist Systematic Strategies LLC purchased a new stake in Wallbox in the 4th quarter valued at approximately $32,000. Group One Trading LLC lifted its position in shares of Wallbox by 2,888.3% in the fourth quarter. Group One Trading LLC now owns 81,910 shares of the company’s stock valued at $41,000 after acquiring an additional 79,169 shares in the last quarter. Alpine Global Management LLC acquired a new stake in shares of Wallbox during the fourth quarter valued at $54,000. XTX Topco Ltd acquired a new stake in shares of Wallbox during the fourth quarter valued at $76,000. Finally, JPMorgan Chase & Co. purchased a new stake in Wallbox during the 4th quarter worth about $84,000. 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.