Wallbox (NYSE:WBX) Price Target Lowered to $3.25 at Canaccord Genuity Group

Wallbox (NYSE:WBX) had its price objective cut by Canaccord Genuity Group from $4.00 to $3.25 in a research report released on Tuesday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

Wallbox Stock Performance

NYSE WBX opened at $1.54 on Tuesday. Wallbox has a 52 week low of $1.21 and a 52 week high of $4.78. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.86 and a current ratio of 1.35. The company has a 50-day moving average price of $1.42 and a two-hundred day moving average price of $1.48.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Autonomy Capital Jersey L.P. lifted its stake in shares of Wallbox by 9.8% in the 3rd quarter. Autonomy Capital Jersey L.P. now owns 175,652 shares of the company’s stock worth $395,000 after acquiring an additional 15,721 shares during the period. Norges Bank acquired a new stake in shares of Wallbox in the 4th quarter worth approximately $8,923,000. Aristides Capital LLC acquired a new stake in shares of Wallbox in the 4th quarter worth approximately $125,000. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of Wallbox by 23.8% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 198,863 shares of the company’s stock worth $282,000 after acquiring an additional 38,249 shares during the period. 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.