UBS Group Cuts Wallbox (NYSE:WBX) Price Target to $0.50

Wallbox (NYSE:WBX) had its price objective lowered by stock analysts at UBS Group from $1.25 to $0.50 in a note issued to investors on Monday,Benzinga reports. The firm currently has a “neutral” rating on the stock. UBS Group’s price target indicates a potential upside of 4.17% from the company’s previous close.

Other analysts have also issued reports about the stock. Robert W. Baird dropped their price target on shares of Wallbox from $3.00 to $2.00 and set an “outperform” rating on the stock in a research report on Thursday, November 7th. Stifel Nicolaus downgraded shares of Wallbox from a “buy” rating to a “hold” rating and cut their target price for the company from $3.00 to $1.50 in a research note on Wednesday, October 30th. Finally, Canaccord Genuity Group lowered their price target on Wallbox from $3.25 to $1.50 and set a “buy” rating on the stock in a research report on Thursday, November 7th.

Wallbox Stock Performance

Shares of NYSE:WBX traded down $0.01 during trading on Monday, hitting $0.48. 108,121 shares of the company were exchanged, compared to its average volume of 926,421. Wallbox has a fifty-two week low of $0.41 and a fifty-two week high of $1.73. The company has a quick ratio of 0.68, a current ratio of 1.16 and a debt-to-equity ratio of 0.93. The firm has a fifty day moving average price of $0.56 and a two-hundred day moving average price of $1.00.

Institutional Investors Weigh In On Wallbox

An institutional investor recently raised its position in Wallbox stock. Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Wallbox (NYSE:WBX) by 12.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 211,660 shares of the company’s stock after purchasing an additional 22,948 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.12% of Wallbox worth $258,000 as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 36.94% of the company’s stock.

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.