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

Wallbox (NYSE:WBX) had its target price dropped by stock analysts at Canaccord Genuity Group from $3.25 to $1.50 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s target price would suggest a potential upside of 52.67% from the company’s current price.

WBX has been the topic of a number of other research reports. Robert W. Baird cut their target price on shares of Wallbox from $3.00 to $2.00 and set an “outperform” rating on the stock in a research report on Thursday. Stifel Nicolaus lowered Wallbox from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $3.00 to $1.50 in a research report on Wednesday, October 30th. Finally, UBS Group dropped their target price on Wallbox from $1.75 to $1.25 and set a “neutral” rating for the company in a research report on Tuesday, October 15th.

Wallbox Stock Performance

WBX stock traded up $0.03 during mid-day trading on Thursday, hitting $0.98. The stock had a trading volume of 111,449 shares, compared to its average volume of 395,461. The firm has a fifty day simple moving average of $1.14 and a 200 day simple moving average of $1.33. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.16 and a quick ratio of 0.68. Wallbox has a 52 week low of $0.82 and a 52 week high of $2.09.

Institutional Trading of Wallbox

An institutional investor recently bought a new position in Wallbox stock. J. Stern & Co. LLP purchased a new stake in Wallbox (NYSE:WBX) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 50,000 shares of the company’s stock, valued at approximately $66,000. 36.94% of the stock is owned by institutional investors and hedge funds.

Wallbox Company Profile

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.