Short Interest in Wallbox (NYSE:WBX) Rises By 35.1%

Wallbox (NYSE:WBX) was the recipient of a large increase in short interest in the month of February. As of February 28th, there was short interest totalling 2,040,000 shares, an increase of 35.1% from the February 13th total of 1,510,000 shares. Approximately 2.5% of the company’s shares are sold short. Based on an average trading volume of 818,600 shares, the days-to-cover ratio is currently 2.5 days.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Canaccord Genuity Group cut their price target on shares of Wallbox from $1.50 to $1.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. UBS Group cut their price objective on shares of Wallbox from $1.25 to $0.50 and set a “neutral” rating on the stock in a research report on Monday, January 27th. Finally, Stifel Nicolaus decreased their price objective on Wallbox from $1.50 to $1.00 and set a “hold” rating for the company in a report on Monday, March 10th.

Institutional Trading of Wallbox

Large investors have recently added to or reduced their stakes in the stock. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Wallbox by 12.2% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 211,660 shares of the company’s stock worth $258,000 after purchasing an additional 22,948 shares during the last quarter. JPMorgan Chase & Co. bought a new position in Wallbox during the fourth quarter valued at $84,000. XTX Topco Ltd purchased a new stake in Wallbox in the fourth quarter worth $76,000. Alpine Global Management LLC bought a new stake in shares of Wallbox in the fourth quarter valued at $54,000. Finally, Group One Trading LLC lifted its position in shares of Wallbox by 2,888.3% during the 4th quarter. Group One Trading LLC now owns 81,910 shares of the company’s stock valued at $41,000 after buying an additional 79,169 shares during the last quarter. Hedge funds and other institutional investors own 36.94% of the company’s stock.

Wallbox Price Performance

Shares of WBX stock traded up $0.00 during trading on Friday, hitting $0.35. The company’s stock had a trading volume of 183,657 shares, compared to its average volume of 508,625. Wallbox has a 52 week low of $0.34 and a 52 week high of $1.73. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.68 and a current ratio of 1.16. The business has a fifty day moving average of $0.48 and a 200-day moving average of $0.76.

About Wallbox

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.