Canaccord Genuity Group Issues Pessimistic Forecast for Wallbox (NYSE:WBX) Stock Price

Wallbox (NYSE:WBX) had its price objective dropped by equities researchers at Canaccord Genuity Group from $1.50 to $1.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s target price suggests a potential upside of 127.27% from the company’s current price.

Several other research firms have also commented on WBX. Robert W. Baird lowered their price target on shares of Wallbox from $3.00 to $2.00 and set an “outperform” rating on the stock in a report on Thursday, November 7th. UBS Group cut their price objective on Wallbox from $1.25 to $0.50 and set a “neutral” rating for the company in a research report on Monday, January 27th.

Wallbox Stock Down 0.0 %

WBX stock traded down $0.00 during midday trading on Friday, reaching $0.44. The stock had a trading volume of 136,156 shares, compared to its average volume of 694,246. The firm has a fifty day simple moving average of $0.51 and a two-hundred day simple moving average of $0.84. Wallbox has a 52-week low of $0.41 and a 52-week 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 Investors Weigh In On Wallbox

Hedge funds and other institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. purchased a new stake in Wallbox in the 4th quarter valued at $84,000. XTX Topco Ltd acquired a new position in Wallbox during the fourth quarter worth $76,000. Alpine Global Management LLC acquired a new stake in Wallbox during the 4th quarter worth approximately $54,000. Group One Trading LLC raised its position in Wallbox by 2,888.3% in the 4th quarter. Group One Trading LLC now owns 81,910 shares of the company’s stock valued at $41,000 after purchasing an additional 79,169 shares in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of Wallbox during the fourth quarter worth about $32,000. Institutional investors and hedge funds 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.