UBS Group Cuts Wallbox (NYSE:WBX) Price Target to $0.40

Wallbox (NYSE:WBX) had its price objective trimmed by UBS Group from $0.50 to $0.40 in a research report report published on Thursday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

WBX has been the topic of a number of other research reports. Stifel Nicolaus cut 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. Chardan Capital raised shares of Wallbox to a “hold” rating in a report on Wednesday, May 28th. Finally, Canaccord Genuity Group reduced their price objective on shares of Wallbox from $1.00 to $0.75 and set a “buy” rating for the company in a research note on Thursday, May 8th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $1.04.

Wallbox Price Performance

WBX stock opened at $0.34 on Thursday. Wallbox has a 1-year low of $0.25 and a 1-year high of $1.64. The business has a 50-day moving average price of $0.34 and a 200 day moving average price of $0.43. 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 Trading of Wallbox

A number of institutional investors have recently modified their holdings of WBX. Cubist Systematic Strategies LLC purchased a new stake in Wallbox during the fourth quarter valued at approximately $32,000. Larson Financial Group LLC acquired a new position in shares of Wallbox during the first quarter worth $25,000. Group One Trading LLC increased its position in shares of Wallbox by 2,888.3% during the fourth quarter. Group One Trading LLC now owns 81,910 shares of the company’s stock worth $41,000 after purchasing an additional 79,169 shares in the last quarter. Alpine Global Management LLC purchased a new stake in shares of Wallbox during the 4th quarter valued at $54,000. Finally, XTX Topco Ltd acquired a new stake in shares of Wallbox in the 4th quarter worth $76,000. 36.94% of the stock is currently owned by 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.