Posted by admin on Aug 12th, 2022
Wallbox (NYSE:WBX – Get Rating)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $8.43, but opened at $9.19. Wallbox shares last traded at $9.40, with a volume of 2,325 shares trading hands.
A number of research firms have recently commented on WBX. Canaccord Genuity Group assumed coverage on Wallbox in a report on Wednesday, July 13th. They issued a “buy” rating and a $14.00 price objective on the stock. Cowen initiated coverage on Wallbox in a report on Wednesday, May 25th. They issued an “outperform” rating and a $14.00 price objective for the company. Cowen initiated coverage on Wallbox in a research note on Wednesday, May 25th. They set an “outperform” rating and a $14.00 price objective for the company. UBS Group lowered their target price on shares of Wallbox from $25.00 to $18.00 in a report on Wednesday, May 18th. Finally, Stifel Nicolaus decreased their price objective on shares of Wallbox from $24.00 to $20.00 and set a “buy” rating on the stock in a report on Thursday. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $16.56.
The company’s 50-day moving average is $9.16 and its 200-day moving average is $11.14. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.48 and a quick ratio of 1.31.
A number of institutional investors and hedge funds have recently made changes to their positions in WBX. Cetera Advisor Networks LLC acquired a new position in Wallbox in the second quarter valued at $1,047,000. Vontobel Holding Ltd. acquired a new position in shares of Wallbox in the 2nd quarter valued at about $1,542,000. Bank of America Corp DE grew its holdings in shares of Wallbox by 60.3% during the 1st quarter. Bank of America Corp DE now owns 150,585 shares of the company’s stock worth $1,920,000 after purchasing an additional 56,673 shares during the period. Walleye Capital LLC increased its position in Wallbox by 11.9% during the 1st quarter. Walleye Capital LLC now owns 32,984 shares of the company’s stock worth $421,000 after purchasing an additional 3,519 shares in the last quarter. Finally, Polar Capital Holdings Plc purchased a new position in Wallbox in the first quarter valued at approximately $323,000. 33.20% of the stock is currently owned by institutional investors and hedge funds.
Wallbox N.V., a technology company, designs, manufactures, and distributes charging solutions for residential, business, and public use. The company operates in three segments: Europe-Middle East Asia, North America, and Asia-Pacific. It offers EV charging hardware products, such as Pulsar Plus, an AC smart charger for home or multi-family residence; 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, a DC bi-directional charger for home-use that allows to charge and discharge electric vehicle, and enables to use car battery to power home or sell energy back to the grid; 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.
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