UBS Group Issues Pessimistic Forecast for Wallbox (NYSE:WBX) Stock Price

Wallbox (NYSE:WBX) had its price objective lowered by stock analysts at UBS Group from $1.25 to $0.50 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. UBS Group’s target price would suggest a potential upside of 3.73% from the stock’s previous close.

WBX has been the topic of a number of other reports. Robert W. Baird decreased their target price on Wallbox from $3.00 to $2.00 and set an “outperform” rating on the stock in a research report on Thursday, November 7th. Stifel Nicolaus lowered Wallbox from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $3.00 to $1.50 in a report on Wednesday, October 30th. Finally, Canaccord Genuity Group lowered their price objective on Wallbox from $3.25 to $1.50 and set a “buy” rating on the stock in a research report on Thursday, November 7th.

Wallbox Stock Up 0.4 %

Shares of Wallbox stock opened at $0.48 on Monday. The firm has a fifty day moving average price of $0.56 and a two-hundred day moving average price of $0.98. Wallbox has a fifty-two week low of $0.41 and a fifty-two week high of $1.73. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.16 and a quick ratio of 0.68.

Institutional Investors Weigh In On Wallbox

An institutional investor recently raised its position in Wallbox stock. Healthcare of Ontario Pension Plan Trust Fund raised its position in Wallbox (NYSE:WBX) by 12.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 211,660 shares of the company’s stock after buying an additional 22,948 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned 0.12% of Wallbox worth $258,000 as of its most recent SEC filing. Institutional investors own 36.94% of the company’s stock.

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.