Wallbox (NYSE:WBX) Trading Up 8% – Time to Buy?

Shares of Wallbox (NYSE:WBX) rose 8% on Wednesday . The stock traded as high as $0.56 and last traded at $0.56. Approximately 674,783 shares traded hands during mid-day trading, a decline of 52% from the average daily volume of 1,403,248 shares. The stock had previously closed at $0.52.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on WBX shares. Robert W. Baird reduced their price target on Wallbox from $3.00 to $2.00 and set an “outperform” rating on the stock in a research note on Thursday, November 7th. UBS Group dropped their price objective on shares of Wallbox from $1.75 to $1.25 and set a “neutral” rating for the company in a research report on Tuesday, October 15th. Canaccord Genuity Group dropped their target price on Wallbox from $3.25 to $1.50 and set a “buy” rating on the stock in a report on Thursday, November 7th. Finally, Stifel Nicolaus lowered shares of Wallbox from a “buy” rating to a “hold” rating and cut their price objective for the stock from $3.00 to $1.50 in a report on Wednesday, October 30th.

Wallbox Stock Up 8.0 %

The business’s 50-day moving average price is $0.61 and its 200-day moving average price is $1.04. The company has a quick ratio of 0.68, a current ratio of 1.16 and a debt-to-equity ratio of 0.93.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Wallbox stock. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in Wallbox (NYSE:WBX) by 12.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 211,660 shares of the company’s stock after buying an additional 22,948 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.12% of Wallbox worth $258,000 at the end of the most recent quarter. 36.94% of the stock is owned by 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.