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

Wallbox (NYSE:WBX) had its target price dropped by research analysts at Canaccord Genuity Group from $3.25 to $1.50 in a report released on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s target price would indicate a potential upside of 52.67% from the company’s previous close.

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

Wallbox Trading Up 2.8 %

Shares of WBX stock traded up $0.03 during trading hours on Thursday, hitting $0.98. The company had a trading volume of 111,449 shares, compared to its average volume of 395,461. The company has a current ratio of 1.16, a quick ratio of 0.68 and a debt-to-equity ratio of 0.93. The firm’s fifty day moving average is $1.14 and its 200 day moving average is $1.33. Wallbox has a 12 month low of $0.82 and a 12 month high of $2.09.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Wallbox stock. J. Stern & Co. LLP purchased a new stake in Wallbox (NYSE:WBX) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 50,000 shares of the company’s stock, valued at approximately $66,000. 36.94% of the stock is owned by hedge funds and other 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.