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

Wallbox (NYSE:WBX) had its price target lowered by investment analysts at Stifel Nicolaus from $1.50 to $1.00 in a research note issued on Monday,Benzinga reports. The firm presently has a “hold” rating on the stock. Stifel Nicolaus’ target price would indicate a potential upside of 184.90% from the company’s current price.

Several other research firms have also commented on WBX. UBS Group cut their price objective on Wallbox from $1.25 to $0.50 and set a “neutral” rating on the stock in a research report on Monday, January 27th. Canaccord Genuity Group reduced their price target on Wallbox from $1.50 to $1.00 and set a “buy” rating on the stock in a research report on Friday, February 28th.

Wallbox Price Performance

WBX traded down $0.02 during trading on Monday, hitting $0.35. 275,925 shares of the company’s stock were exchanged, compared to its average volume of 694,035. Wallbox has a 1 year low of $0.35 and a 1 year high of $1.73. The stock has a 50 day moving average price of $0.50 and a 200 day moving average price of $0.79. 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 modified their holdings of WBX. Cubist Systematic Strategies LLC acquired a new stake in Wallbox during the 4th quarter valued at approximately $32,000. Group One Trading LLC grew 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 buying an additional 79,169 shares in the last quarter. Alpine Global Management LLC bought a new stake in shares of Wallbox in the fourth quarter worth $54,000. XTX Topco Ltd acquired a new stake in Wallbox in the fourth quarter valued at $76,000. Finally, JPMorgan Chase & Co. acquired a new stake in Wallbox in the fourth quarter valued at $84,000. 36.94% of the stock is owned by hedge funds and other institutional investors.

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.