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

Stifel Nicolaus cut shares of Wallbox (NYSE:WBX) from a buy rating to a hold rating in a research note issued to investors on Wednesday, Marketbeat reports. The brokerage currently has $1.50 price target on the stock, down from their prior price target of $3.00.

Other equities analysts have also issued reports about the company. UBS Group cut their target price on Wallbox from $1.75 to $1.25 and set a “neutral” rating on the stock in a research report on Tuesday, October 15th. Canaccord Genuity Group dropped their price target on Wallbox from $4.00 to $3.25 and set a “buy” rating on the stock in a research report on Tuesday, July 9th.

Wallbox Price Performance

Shares of WBX opened at $0.86 on Wednesday. The business’s 50 day moving average is $1.17 and its two-hundred day moving average is $1.34. Wallbox has a 52-week low of $0.82 and a 52-week high of $2.09. The company has a quick ratio of 0.68, a current ratio of 1.16 and a debt-to-equity ratio of 0.93.

Institutional Investors Weigh In On Wallbox

An institutional investor recently raised its position in Wallbox stock. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Wallbox (NYSE:WBX) by 23.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 198,863 shares of the company’s stock after acquiring an additional 38,249 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned about 0.12% of Wallbox worth $282,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 36.94% of the company’s stock.

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.