Stifel Nicolaus Downgrades Wallbox (NYSE:WBX) to Hold

Wallbox (NYSE:WBX) was downgraded by research analysts at Stifel Nicolaus from a “buy” rating to a “hold” rating in a report released on Wednesday, Marketbeat.com reports.

Several other research analysts have also recently commented on WBX. Canaccord Genuity Group cut their price target on Wallbox from $4.00 to $3.25 and set a “buy” rating on the stock in a research note on Tuesday, July 9th. UBS Group cut their target price on Wallbox from $1.75 to $1.25 and set a “neutral” rating on the stock in a research report on Tuesday, October 15th.

Wallbox Trading Up 1.9 %

Wallbox stock opened at $0.96 on Wednesday. The company has a quick ratio of 0.68, a current ratio of 1.16 and a debt-to-equity ratio of 0.93. The firm’s fifty day moving average price is $1.22 and its 200 day moving average price is $1.35. Wallbox has a 12-month low of $0.82 and a 12-month high of $2.09.

Institutional Trading of Wallbox

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