Wallbox (NYSE:WBX) Price Target Lowered to $2.00 at Robert W. Baird

Wallbox (NYSE:WBX) had its price objective reduced by Robert W. Baird from $3.00 to $2.00 in a research report sent to investors on Thursday morning,Benzinga reports. They currently have an outperform rating on the stock.

A number of other research firms also recently commented on WBX. Stifel Nicolaus downgraded shares of Wallbox from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $3.00 to $1.50 in a report on Wednesday, October 30th. UBS Group reduced their price target on shares of Wallbox from $1.75 to $1.25 and set a “neutral” rating on the stock in a report on Tuesday, October 15th.

Wallbox Stock Performance

Shares of NYSE:WBX traded down $0.12 during midday trading on Thursday, hitting $0.84. The stock had a trading volume of 845,016 shares, compared to its average volume of 398,267. The stock has a 50 day moving average price of $1.13 and a two-hundred day moving average price of $1.33. The company has a quick ratio of 0.68, a current ratio of 1.16 and a debt-to-equity ratio of 0.93. Wallbox has a 1 year low of $0.82 and a 1 year high of $2.09.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Wallbox stock. J. Stern & Co. LLP purchased a new position in shares of Wallbox (NYSE:WBX) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. 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 hedge funds and other institutional investors.

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.