UBS Group Cuts Wallbox (NYSE:WBX) Price Target to $0.50

Wallbox (NYSE:WBX) had its target price decreased by UBS Group from $1.25 to $0.50 in a report released on Monday,Benzinga reports. UBS Group currently has a neutral rating on the stock.

Other equities research analysts have also issued research reports about the stock. 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 note on Thursday, November 7th. Stifel Nicolaus lowered Wallbox from a “buy” rating to a “hold” rating and decreased their target price for the stock from $3.00 to $1.50 in a research report on Wednesday, October 30th. Finally, Canaccord Genuity Group decreased their price objective on shares of Wallbox from $3.25 to $1.50 and set a “buy” rating for the company in a report on Thursday, November 7th.

Wallbox Trading Down 2.5 %

WBX stock opened at $0.47 on Monday. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.16 and a quick ratio of 0.68. The firm has a 50 day simple moving average of $0.56 and a 200-day simple moving average of $0.98. Wallbox has a twelve month low of $0.41 and a twelve month high of $1.73.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Wallbox stock. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Wallbox (NYSE:WBX) by 12.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 211,660 shares of the company’s stock after buying an additional 22,948 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.12% of Wallbox worth $258,000 at the end of the most recent reporting period. 36.94% of the stock is owned by institutional investors.

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.