Wallbox (NYSE:WBX) Coverage Initiated by Analysts at Northland Securities

Northland Securities initiated coverage on shares of Wallbox (NYSE:WBXGet Rating) in a report released on Tuesday morning, Marketbeat.com reports. The brokerage issued an outperform rating and a $16.00 price objective on the stock.

Several other research analysts also recently commented on WBX. Credit Suisse Group dropped their price objective on shares of Wallbox to $11.00 in a report on Wednesday, November 16th. Robert W. Baird dropped their price objective on shares of Wallbox from $20.00 to $14.00 in a report on Thursday, November 10th. Barclays assumed coverage on shares of Wallbox in a report on Friday, August 5th. They issued an overweight rating and a $14.00 price target for the company. Stifel Nicolaus lowered their price target on shares of Wallbox from $24.00 to $20.00 and set a buy rating for the company in a report on Thursday, August 11th. Finally, Canaccord Genuity Group lowered their price target on shares of Wallbox from $14.00 to $13.00 and set a buy rating for the company in a report on Thursday, November 10th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $15.18.

Wallbox Stock Performance

WBX opened at $5.74 on Tuesday. The firm has a 50-day simple moving average of $7.07 and a two-hundred day simple moving average of $8.57. Wallbox has a 52 week low of $5.01 and a 52 week high of $17.60. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.61 and a quick ratio of 1.24.

Institutional Trading of Wallbox

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Anson Funds Management LP purchased a new stake in Wallbox in the 3rd quarter worth about $944,000. Prelude Capital Management LLC raised its position in Wallbox by 61.0% in the 3rd quarter. Prelude Capital Management LLC now owns 27,116 shares of the company’s stock worth $214,000 after purchasing an additional 10,271 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Wallbox in the 3rd quarter worth about $661,000. Advisors Asset Management Inc. raised its position in Wallbox by 207.5% in the 3rd quarter. Advisors Asset Management Inc. now owns 6,024 shares of the company’s stock worth $47,000 after purchasing an additional 4,065 shares during the period. Finally, Creative Planning purchased a new stake in Wallbox in the 3rd quarter worth about $81,000. 4.13% of the stock is owned by hedge funds and other institutional investors.

Wallbox Company Profile

(Get Rating)

Wallbox N.V., a technology company, designs, manufactures, and distributes charging solutions for residential, business, and public use. The company operates in three segments: Europe-Middle East Asia, North America, and Asia-Pacific. It offers EV charging hardware products, such as Pulsar Plus, an AC smart charger for home or multi-family residence; 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, a DC bi-directional charger for home-use that allows to charge and discharge electric vehicle, and enables to use car battery to power home or sell energy back to the grid; 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.

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