Wallbox (NYSE:WBX) Trading Down 1% – Should You Sell?

Wallbox (NYSE:WBX) dropped 1% during mid-day trading on Thursday . The stock traded as low as $0.61 and last traded at $0.62. Approximately 301,361 shares were traded during mid-day trading, a decline of 28% from the average daily volume of 419,735 shares. The stock had previously closed at $0.63.

Analyst Ratings Changes

WBX has been the subject of several recent research reports. Canaccord Genuity Group lowered their price target on Wallbox from $3.25 to $1.50 and set a “buy” rating for the company in a report on Thursday, November 7th. Stifel Nicolaus downgraded Wallbox from a “buy” rating to a “hold” rating and lowered their price target for the company from $3.00 to $1.50 in a report on Wednesday, October 30th. UBS Group lowered their price target on Wallbox from $1.75 to $1.25 and set a “neutral” rating for the company in a report on Tuesday, October 15th. Finally, Robert W. Baird lowered their target price on Wallbox from $3.00 to $2.00 and set an “outperform” rating for the company in a research note on Thursday, November 7th.

Wallbox Price Performance

The firm has a 50 day moving average price of $0.95 and a two-hundred day moving average price of $1.24. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.68 and a current ratio of 1.16.

Institutional Trading of Wallbox

A hedge fund recently raised its stake in Wallbox stock. Healthcare of Ontario Pension Plan Trust Fund increased its position in Wallbox (NYSE:WBX) by 12.2% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 211,660 shares of the company’s stock after purchasing an additional 22,948 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned 0.12% of Wallbox worth $258,000 at the end of the most recent reporting period. Institutional investors own 36.94% of the company’s stock.

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.