Wallbox (NYSE:WBX) Receives Consensus Rating of "Moderate Buy" from Analysts

May 13, 2023

Shares of Wallbox (NYSE:WBX - Get Rating) have been assigned a consensus rating of "Moderate Buy" from the twelve brokerages that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $11.09.

A number of brokerages have weighed in on WBX. UBS Group lowered their price objective on Wallbox from $14.00 to $7.00 and set a "buy" rating on the stock in a report on Tuesday, January 10th. Barclays lowered their price target on Wallbox from $14.00 to $7.00 and set an "overweight" rating for the company in a report on Wednesday, March 22nd. Robert W. Baird reduced their price target on shares of Wallbox from $11.00 to $7.00 in a research report on Friday, May 5th. Credit Suisse Group cut their target price on shares of Wallbox from $10.00 to $9.00 and set an "outperform" rating on the stock in a report on Friday, March 17th. Finally, Stifel Nicolaus lowered their price objective on shares of Wallbox from $14.00 to $9.00 in a research note on Tuesday, April 25th.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Jane Street Group LLC acquired a new position in Wallbox in the fourth quarter valued at about $46,000. Advisors Asset Management Inc. lifted its position in shares of Wallbox by 207.5% during the third quarter. Advisors Asset Management Inc. now owns 6,024 shares of the company's stock worth $47,000 after purchasing an additional 4,065 shares in the last quarter. NEIRG Wealth Management LLC acquired a new position in shares of Wallbox during the first quarter worth approximately $58,000. ExodusPoint Capital Management LP bought a new stake in shares of Wallbox during the fourth quarter worth approximately $65,000. Finally, Commonwealth Equity Services LLC bought a new stake in shares of Wallbox during the fourth quarter worth approximately $70,000. Institutional investors own 5.31% of the company's stock.

Shares of WBX stock opened at $3.41 on Wednesday. The stock's 50-day moving average is $3.98 and its two-hundred day moving average is $4.74. Wallbox has a 1 year low of $2.44 and a 1 year high of $11.99. The company has a quick ratio of 0.83, a current ratio of 1.43 and a debt-to-equity ratio of 0.26.

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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