Wallbox (NYSE:WBX) PT Lowered to $7.00 at UBS Group

Wallbox (NYSE:WBX – Get Rating) had its target price reduced by UBS Group from $14.00 to $7.00 in a research note released on Tuesday, The Fly reports. They currently have a buy rating on the stock.

WBX has been the subject of several other reports. Credit Suisse Group cut their price objective on Wallbox from $11.00 to $10.00 and set an outperform rating for the company in a research note on Friday, December 2nd. Robert W. Baird cut their price objective on Wallbox from $20.00 to $14.00 in a research note on Thursday, November 10th. Canaccord Genuity Group cut their price objective on Wallbox from $14.00 to $13.00 and set a buy rating for the company in a research note on Thursday, November 10th. Finally, Northland Securities assumed coverage on Wallbox in a research note on Tuesday, November 22nd. They set an outperform rating and a $16.00 price objective for the company. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Wallbox currently has an average rating of Moderate Buy and a consensus price target of $14.09.

Wallbox Stock Performance

Shares of Wallbox stock opened at $4.01 on Tuesday. Wallbox has a twelve month low of $3.14 and a twelve month high of $15.59. The business has a 50-day moving average price of $4.77 and a 200 day moving average price of $7.18. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.24 and a current ratio of 1.61.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Advisors Asset Management Inc. lifted its holdings in Wallbox by 207.5% in the third quarter. Advisors Asset Management Inc. now owns 6,024 shares of the company’s stock valued at $47,000 after acquiring an additional 4,065 shares during the last quarter. Creative Planning acquired a new position in Wallbox in the third quarter valued at approximately $81,000. LPL Financial LLC acquired a new position in Wallbox in the second quarter valued at approximately $98,000. Goldman Sachs Group Inc. acquired a new position in Wallbox in the first quarter valued at approximately $237,000. Finally, Polar Capital Holdings Plc acquired a new position in Wallbox in the first quarter valued at approximately $323,000. 5.31% of the stock is currently owned by institutional investors and hedge funds.

About Wallbox

(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.