Wallbox (NYSE:WBX) Price Target Lowered to $3.25 at Canaccord Genuity Group

Wallbox (NYSE:WBX) had its target price reduced by Canaccord Genuity Group from $4.00 to $3.25 in a research report sent to investors on Tuesday morning, Benzinga reports. They currently have a buy rating on the stock.

Wallbox Trading Up 8.5 %

WBX opened at $1.54 on Tuesday. The business has a fifty day moving average of $1.42 and a 200 day moving average of $1.48. Wallbox has a 52-week low of $1.21 and a 52-week high of $4.78. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.86 and a current ratio of 1.35.

Institutional Investors Weigh In On Wallbox

Hedge funds have recently made changes to their positions in the company. Aristides Capital LLC bought a new position in shares of Wallbox in the 4th quarter worth $125,000. Autonomy Capital Jersey L.P. raised its position in shares of Wallbox by 9.8% in the 3rd quarter. Autonomy Capital Jersey L.P. now owns 175,652 shares of the company’s stock worth $395,000 after acquiring an additional 15,721 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its position in Wallbox by 23.8% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 198,863 shares of the company’s stock valued at $282,000 after buying an additional 38,249 shares in the last quarter. Finally, Norges Bank acquired a new position in Wallbox during the 4th quarter valued at about $8,923,000. 36.94% of the stock is currently owned by hedge funds and other institutional investors.

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.