Canaccord Genuity Group Lowers Wallbox (NYSE:WBX) Price Target to $1.00

Wallbox (NYSE:WBX) had its price target cut by stock analysts at Canaccord Genuity Group from $1.50 to $1.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s target price would indicate a potential upside of 127.27% from the company’s current price.

WBX has been the topic of a number of other reports. UBS Group decreased their price target on Wallbox from $1.25 to $0.50 and set a “neutral” rating on the stock in a research note on Monday, January 27th. Robert W. Baird decreased their price target on Wallbox from $3.00 to $2.00 and set an “outperform” rating on the stock in a research note on Thursday, November 7th.

Wallbox Stock Down 0.0 %

NYSE:WBX traded down $0.00 during mid-day trading on Friday, reaching $0.44. The stock had a trading volume of 136,156 shares, compared to its average volume of 694,246. Wallbox has a twelve month low of $0.41 and a twelve month high of $1.73. The business has a 50 day simple moving average of $0.51 and a 200 day simple moving average of $0.84. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.16 and a quick ratio of 0.68.

Institutional Investors Weigh In On Wallbox

Several hedge funds have recently modified their holdings of WBX. Healthcare of Ontario Pension Plan Trust Fund raised its stake in Wallbox by 12.2% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 211,660 shares of the company’s stock worth $258,000 after purchasing an additional 22,948 shares during the period. Cubist Systematic Strategies LLC acquired a new position in Wallbox in the fourth quarter valued at $32,000. Group One Trading LLC boosted its holdings in Wallbox by 2,888.3% in the fourth quarter. Group One Trading LLC now owns 81,910 shares of the company’s stock valued at $41,000 after acquiring an additional 79,169 shares during the last quarter. Alpine Global Management LLC purchased a new stake in Wallbox during the fourth quarter valued at about $54,000. Finally, XTX Topco Ltd acquired a new stake in Wallbox during the fourth quarter worth about $76,000. 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.