Wallbox (NYSE:WBX) Rating Increased to Hold at Chardan Capital

Wallbox (NYSE:WBX) was upgraded by equities researchers at Chardan Capital to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Other analysts have also recently issued research reports about the company. UBS Group decreased 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. Canaccord Genuity Group lowered their price objective on shares of Wallbox from $1.50 to $1.00 and set a “buy” rating for the company in a research report on Friday, February 28th. Finally, 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 report on Monday, March 10th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Wallbox presently has an average rating of “Hold” and an average target price of $1.13.

Wallbox Price Performance

Shares of WBX opened at $0.35 on Monday. Wallbox has a one year low of $0.32 and a one year high of $1.73. The business’s 50 day simple moving average is $0.45 and its 200-day simple moving average is $0.70. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.16 and a quick ratio of 0.68.

Institutional Trading of Wallbox

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Alpine Global Management LLC acquired a new position in Wallbox during the 4th quarter valued at about $54,000. Group One Trading LLC lifted its holdings in 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 buying an additional 79,169 shares during the period. Cubist Systematic Strategies LLC bought a new position in Wallbox in the fourth quarter valued at approximately $32,000. XTX Topco Ltd acquired a new stake in Wallbox during the 4th quarter worth $76,000. Finally, JPMorgan Chase & Co. bought a new stake in shares of Wallbox during the 4th quarter valued at $84,000. 36.94% of the stock is currently owned by institutional investors and hedge funds.

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.