Wallbox (NYSE:WBX) Upgraded to “Hold” at Chardan Capital

Chardan Capital upgraded shares of Wallbox (NYSE:WBX) to a hold rating in a research report report published on Monday,Zacks.com reports.

Other equities research analysts also recently issued reports about the company. UBS Group decreased 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. Stifel Nicolaus reduced their price objective on Wallbox from $1.50 to $1.00 and set a “hold” rating on the stock in a research note on Monday, March 10th. Finally, Canaccord Genuity Group decreased their price objective on Wallbox from $1.50 to $1.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $1.13.

Wallbox Stock Performance

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

Hedge Funds Weigh In On Wallbox

A number of hedge funds have recently added to or reduced their stakes in the stock. Cubist Systematic Strategies LLC purchased a new stake in shares of Wallbox in the fourth quarter valued at approximately $32,000. Group One Trading LLC raised 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 purchasing an additional 79,169 shares in the last quarter. Alpine Global Management LLC bought a new position in shares of Wallbox during the 4th quarter worth $54,000. XTX Topco Ltd bought a new stake in shares of Wallbox in the fourth quarter valued at about $76,000. Finally, JPMorgan Chase & Co. purchased a new stake in Wallbox in the fourth quarter worth about $84,000. 36.94% of the stock is currently owned by 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.