Wallbox (NYSE:WBX) Stock Rating Upgraded by Chardan Capital

Wallbox (NYSE:WBX) was upgraded by investment analysts at Chardan Capital to a “hold” rating in a report released on Monday,Zacks.com reports.

WBX has been the subject of several other research reports. Stifel Nicolaus lowered their target price on Wallbox from $1.50 to $1.00 and set a “hold” rating for the company in a research note on Monday, March 10th. Canaccord Genuity Group decreased their target price on shares of Wallbox from $1.50 to $1.00 and set a “buy” rating for the company in a research report on Friday, February 28th. Finally, UBS Group cut their target price on Wallbox from $1.25 to $0.50 and set a “neutral” rating on the stock in a research report on Monday, January 27th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $1.13.

Wallbox Price Performance

NYSE:WBX opened at $0.35 on Monday. The company has a quick ratio of 0.68, a current ratio of 1.16 and a debt-to-equity ratio of 0.93. The firm’s 50-day simple moving average is $0.45 and its 200 day simple moving average is $0.70. Wallbox has a 52 week low of $0.32 and a 52 week high of $1.73.

Hedge Funds Weigh In On Wallbox

Institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. bought a new stake in Wallbox during the 4th quarter valued at $84,000. XTX Topco Ltd bought a new position in shares of Wallbox in the 4th quarter worth approximately $76,000. Alpine Global Management LLC bought a new position in Wallbox in the fourth quarter worth $54,000. Group One Trading LLC lifted its position in Wallbox by 2,888.3% during the 4th 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 period. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Wallbox in the 4th quarter worth approximately $32,000. 36.94% of the stock is currently 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.