Wallbox (NYSE:WBX) Trading Up 8% – Should You Buy?

Wallbox (NYSE:WBX)’s stock price traded up 8% during trading on Wednesday . The stock traded as high as $0.56 and last traded at $0.56. 674,783 shares were traded during trading, a decline of 52% from the average session volume of 1,403,248 shares. The stock had previously closed at $0.52.

Wall Street Analysts Forecast Growth

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

Wallbox Stock Performance

The firm has a fifty day moving average of $0.61 and a 200 day moving average of $1.04. The company has a quick ratio of 0.68, a current ratio of 1.16 and a debt-to-equity ratio of 0.93.

Institutional Investors Weigh In On Wallbox

A hedge fund recently raised its stake in Wallbox stock. Healthcare of Ontario Pension Plan Trust Fund increased its position in Wallbox (NYSE:WBX) by 12.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 211,660 shares of the company’s stock after acquiring an additional 22,948 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.12% of Wallbox worth $258,000 as of its most recent SEC filing. Institutional investors own 36.94% of the company’s stock.

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.