Wallbox (NYSE:WBX) Short Interest Down 22.3% in November

Wallbox (NYSE:WBX) was the target of a large drop in short interest during the month of November. As of November 15th, there was short interest totalling 2,270,000 shares, a drop of 22.3% from the October 31st total of 2,920,000 shares. Based on an average daily volume of 446,300 shares, the short-interest ratio is presently 5.1 days. Currently, 2.8% of the shares of the company are short sold.

Analysts Set New Price Targets

A number of research analysts have commented on WBX shares. UBS Group decreased their price objective on Wallbox from $1.75 to $1.25 and set a “neutral” rating on the stock in a report on Tuesday, October 15th. Canaccord Genuity Group cut their price target on shares of Wallbox from $3.25 to $1.50 and set a “buy” rating for the company in a report on Thursday, November 7th. Stifel Nicolaus cut shares of Wallbox from a “buy” rating to a “hold” rating and decreased their price objective for the company from $3.00 to $1.50 in a research note on Wednesday, October 30th. Finally, Robert W. Baird cut their target price on Wallbox from $3.00 to $2.00 and set an “outperform” rating for the company in a research note on Thursday, November 7th.

Hedge Funds Weigh In On Wallbox

An institutional investor recently bought a new position in Wallbox stock. J. Stern & Co. LLP purchased a new position in shares of Wallbox (NYSE:WBX) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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 Stock Performance

WBX stock opened at $0.62 on Friday. The firm has a 50-day moving average price of $0.96 and a 200-day moving average price of $1.25. Wallbox has a 12 month low of $0.50 and a 12 month high of $2.09. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.16 and a quick ratio of 0.68.

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.