UBS Group Has Lowered Expectations for Wallbox (NYSE:WBX) Stock Price

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

WBX has been the subject of a number of other reports. Canaccord Genuity Group lowered their target price on Wallbox from $3.25 to $1.50 and set a “buy” rating for the company in a research note on Thursday, November 7th. Stifel Nicolaus downgraded shares of Wallbox from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $3.00 to $1.50 in a research report on Wednesday, October 30th. Finally, Robert W. Baird cut their price objective 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.

Wallbox Trading Down 1.3 %

Shares of Wallbox stock traded down $0.01 during trading hours on Monday, hitting $0.48. The company’s stock had a trading volume of 108,121 shares, compared to its average volume of 926,421. 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 stock has a 50 day moving average of $0.56 and a 200 day moving average of $1.00. Wallbox has a 12 month low of $0.41 and a 12 month high of $1.73.

Hedge Funds Weigh In On Wallbox

A hedge fund recently raised its stake in Wallbox stock. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in Wallbox (NYSE:WBX) by 12.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 about 0.12% of Wallbox worth $258,000 as of its most recent filing with the Securities and Exchange Commission. 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.