Canaccord Genuity Group Cuts Wallbox (NYSE:WBX) Price Target to $1.50

Wallbox (NYSE:WBX) had its price objective lowered by Canaccord Genuity Group from $3.25 to $1.50 in a research report sent to investors on Thursday,Benzinga reports. The brokerage currently has a buy rating on the stock.

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

Wallbox Price Performance

WBX opened at $0.89 on Thursday. The company has a current ratio of 1.16, a quick ratio of 0.68 and a debt-to-equity ratio of 0.93. Wallbox has a 12-month low of $0.82 and a 12-month high of $2.09. The stock has a 50-day moving average price of $1.12 and a 200-day moving average price of $1.32.

Institutional Investors Weigh In On Wallbox

A hedge fund recently bought a new stake in Wallbox stock. J. Stern & Co. LLP purchased a new position in Wallbox (NYSE:WBX) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 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.