Stifel Nicolaus Downgrades Wallbox (NYSE:WBX) to Hold

Wallbox (NYSE:WBX) was downgraded by investment analysts at Stifel Nicolaus from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday, Marketbeat Ratings reports. They presently have a $1.50 price target on the stock, down from their prior price target of $3.00. Stifel Nicolaus’ price target indicates a potential upside of 69.88% from the company’s previous close.

WBX has been the topic of a number of other reports. UBS Group cut their price objective on Wallbox from $1.75 to $1.25 and set a “neutral” rating on the stock in a report on Tuesday, October 15th. Canaccord Genuity Group reduced their price target on shares of Wallbox from $4.00 to $3.25 and set a “buy” rating for the company in a research report on Tuesday, July 9th.

Wallbox Stock Down 7.0 %

Shares of WBX opened at $0.88 on Wednesday. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.16 and a quick ratio of 0.68. The company’s fifty day moving average price is $1.19 and its 200-day moving average price is $1.34. Wallbox has a 1-year low of $0.82 and a 1-year high of $2.09.

Institutional Trading of Wallbox

An institutional investor recently raised its position in Wallbox stock. Healthcare of Ontario Pension Plan Trust Fund grew its stake in Wallbox (NYSE:WBX) by 23.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 198,863 shares of the company’s stock after purchasing an additional 38,249 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned about 0.12% of Wallbox worth $282,000 at the end of the most recent quarter. 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.