Canaccord Genuity Group Has Lowered Expectations for Wallbox (NYSE:WBX) Stock Price

Wallbox (NYSE:WBXGet Free Report) had its price target dropped by research analysts at Canaccord Genuity Group from $3.25 to $1.50 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s target price would suggest a potential upside of 67.64% from the stock’s previous close.

A number of other analysts have also issued reports on WBX. Stifel Nicolaus lowered Wallbox from a “buy” rating to a “hold” rating and lowered their price target for the stock from $3.00 to $1.50 in a research note on Wednesday, October 30th. Robert W. Baird dropped their target price on shares of Wallbox from $3.00 to $2.00 and set an “outperform” rating for the company in a report on Thursday. Finally, UBS Group decreased their price target on shares of Wallbox from $1.75 to $1.25 and set a “neutral” rating on the stock in a research note on Tuesday, October 15th.

Read Our Latest Analysis on Wallbox

Wallbox Price Performance

Shares of Wallbox stock opened at $0.89 on Thursday. The company has a quick ratio of 0.68, a current ratio of 1.16 and a debt-to-equity ratio of 0.93. Wallbox has a twelve month low of $0.82 and a twelve month high of $2.09. The firm’s 50-day moving average price is $1.12 and its 200 day moving average price is $1.32.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Wallbox stock. J. Stern & Co. LLP acquired a new position in shares of Wallbox (NYSE:WBXFree Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 50,000 shares of the company’s stock, valued at approximately $66,000. Institutional investors and hedge funds own 36.94% of the company’s stock.

Wallbox Company Profile

(Get Free Report)

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.

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