Stifel Nicolaus Cuts Wallbox (NYSE:WBX) Price Target to $3.00

Wallbox (NYSE:WBX) had its price target trimmed by Stifel Nicolaus from $4.00 to $3.00 in a report issued on Monday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

Separately, Canaccord Genuity Group dropped their price target on 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 Up 2.3 %

Shares of WBX opened at $1.35 on Monday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.35 and a quick ratio of 0.86. Wallbox has a 1-year low of $1.21 and a 1-year high of $3.15. The firm has a 50 day simple moving average of $1.38 and a 200-day simple moving average of $1.44.

Hedge Funds Weigh In On Wallbox

Several institutional investors and hedge funds have recently modified their holdings of the company. J. Stern & Co. LLP purchased a new stake in Wallbox in the 2nd quarter worth approximately $66,000. Aristides Capital LLC purchased a new stake in shares of Wallbox in the fourth quarter valued at $125,000. Healthcare of Ontario Pension Plan Trust Fund increased its stake in Wallbox by 23.8% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 198,863 shares of the company’s stock valued at $282,000 after purchasing an additional 38,249 shares during the last quarter. Finally, Norges Bank purchased a new position in Wallbox during the fourth quarter worth about $8,923,000. Hedge funds and other 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.