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

Stifel Nicolaus lowered shares of Wallbox (NYSE:WBX) from a buy rating to a hold rating in a report released on Wednesday, Marketbeat reports. They currently have $1.50 price target on the stock, down from their previous price target of $3.00.

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

Wallbox Stock Performance

Shares of NYSE:WBX opened at $0.87 on Wednesday. The company has a 50 day moving average of $1.18 and a 200 day moving average of $1.34. Wallbox has a 12 month low of $0.82 and a 12 month 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

A hedge fund recently bought a new stake in Wallbox stock. J. Stern & Co. LLP acquired a new stake in Wallbox (NYSE:WBX) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 50,000 shares of the company’s stock, valued at approximately $66,000. 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.