Wallbox (NYSE:WBX) Cut to “Hold” at Stifel Nicolaus

Stifel Nicolaus downgraded shares of Wallbox (NYSE:WBX) from a buy rating to a hold rating in a report released on Wednesday morning, Marketbeat Ratings reports. Stifel Nicolaus currently has $1.50 target price on the stock, down from their prior target price of $3.00.

Several other research firms have also recently weighed in on WBX. UBS Group cut their price target on shares of Wallbox from $1.75 to $1.25 and set a “neutral” rating on the stock in a report on Tuesday, October 15th. Canaccord Genuity Group cut their price target on shares of Wallbox from $4.00 to $3.25 and set a “buy” rating on the stock in a report on Tuesday, July 9th.

Wallbox Stock Down 1.1 %

Wallbox stock opened at $0.87 on Wednesday. Wallbox has a fifty-two week low of $0.82 and a fifty-two week high of $2.09. The firm’s 50-day simple moving average is $1.18 and its 200 day simple moving average is $1.34. 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 Trading of Wallbox

A hedge fund recently raised its stake in Wallbox stock. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Wallbox (NYSE:WBX) by 23.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 198,863 shares of the company’s stock after purchasing an additional 38,249 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.12% of Wallbox worth $282,000 at the end of the most recent quarter. Hedge funds and other 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.