Wallbox (NYSE:WBX) Trading Down 1% – Should You Sell?

Wallbox (NYSE:WBX)’s share price traded down 1% on Thursday . The company traded as low as $0.61 and last traded at $0.62. 301,361 shares were traded during trading, a decline of 28% from the average session volume of 419,735 shares. The stock had previously closed at $0.63.

Analyst Upgrades and Downgrades

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

Wallbox Stock Performance

The company has a debt-to-equity ratio of 0.93, a current ratio of 1.16 and a quick ratio of 0.68. The firm has a 50-day moving average of $0.95 and a two-hundred day moving average of $1.24.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Wallbox stock. J. Stern & Co. LLP bought a new position in Wallbox (NYSE:WBX) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 50,000 shares of the company’s stock, valued at approximately $66,000. Hedge funds and other institutional investors own 36.94% of the company’s stock.

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.