Short Interest in Wallbox (NYSE:WBX) Decreases By 22.3%

Wallbox (NYSE:WBX) was the recipient of a large drop in short interest in 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 days-to-cover ratio is currently 5.1 days. Currently, 2.8% of the company’s shares are short sold.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Wallbox

An institutional investor recently bought a new position in Wallbox stock. J. Stern & Co. LLP purchased a new stake in Wallbox (NYSE:WBX) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 50,000 shares of the company’s stock, valued at approximately $66,000. 36.94% of the stock is currently owned by institutional investors.

Wallbox Stock Up 6.5 %

WBX traded up $0.04 on Friday, reaching $0.66. 502,685 shares of the company traded hands, compared to its average volume of 420,103. 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 stock’s 50 day moving average price is $0.95 and its 200-day moving average price is $1.24. Wallbox has a 52-week low of $0.50 and a 52-week high of $2.09.

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.