Short Interest in Wallbox (NYSE:WBX) Rises By 35.1%

Wallbox (NYSE:WBX) saw a large growth in short interest in the month of February. As of February 28th, there was short interest totalling 2,040,000 shares, a growth of 35.1% from the February 13th total of 1,510,000 shares. Currently, 2.5% of the company’s shares are sold short. Based on an average daily trading volume, of 818,600 shares, the days-to-cover ratio is currently 2.5 days.

Hedge Funds Weigh In On Wallbox

Several hedge funds and other institutional investors have recently bought and sold shares of WBX. Healthcare of Ontario Pension Plan Trust Fund lifted its position in Wallbox by 12.2% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 211,660 shares of the company’s stock worth $258,000 after acquiring an additional 22,948 shares in the last quarter. JPMorgan Chase & Co. acquired a new position in Wallbox during the 4th quarter worth approximately $84,000. XTX Topco Ltd acquired a new position in Wallbox during the 4th quarter worth approximately $76,000. Alpine Global Management LLC acquired a new position in Wallbox during the 4th quarter worth approximately $54,000. Finally, Cubist Systematic Strategies LLC acquired a new position in Wallbox during the 4th quarter worth approximately $32,000. 36.94% of the stock is owned by institutional investors and hedge funds.

Wallbox Price Performance

Wallbox stock traded down $0.01 during midday trading on Tuesday, hitting $0.35. 68,889 shares of the company were exchanged, compared to its average volume of 650,803. The company’s fifty day moving average price is $0.47 and its 200-day moving average price is $0.74. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.68 and a current ratio of 1.16. Wallbox has a fifty-two week low of $0.34 and a fifty-two week high of $1.73.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on WBX. UBS Group decreased their target price on Wallbox from $1.25 to $0.50 and set a “neutral” rating for the company in a report on Monday, January 27th. Canaccord Genuity Group decreased their target price on Wallbox from $1.50 to $1.00 and set a “buy” rating for the company in a report on Friday, February 28th. Finally, Stifel Nicolaus decreased their target price on Wallbox from $1.50 to $1.00 and set a “hold” rating for the company in a report on Monday, March 10th.

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.