Short Interest in Wallbox (NYSE:WBX) Rises By 27.5%

Wallbox (NYSE:WBX) was the recipient of a significant growth in short interest in March. As of March 15th, there was short interest totalling 2,600,000 shares, a growth of 27.5% from the February 28th total of 2,040,000 shares. Approximately 3.2% of the shares of the company are sold short. Based on an average daily volume of 785,900 shares, the short-interest ratio is currently 3.3 days.

Wallbox Stock Performance

NYSE:WBX opened at $0.33 on Thursday. The firm’s fifty day simple moving average is $0.42 and its 200 day simple moving average is $0.67. Wallbox has a twelve month low of $0.29 and a twelve month high of $1.73. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.68 and a current ratio of 1.16.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on WBX. UBS Group cut their target price on Wallbox from $1.25 to $0.50 and set a “neutral” rating for the company in a research note on Monday, January 27th. Canaccord Genuity Group dropped their price objective on shares of Wallbox from $1.50 to $1.00 and set a “buy” rating for the company in a research note on Friday, February 28th. Chardan Capital raised shares of Wallbox to a “hold” rating in a research note on Monday, March 24th. Finally, Stifel Nicolaus reduced their price target on Wallbox from $1.50 to $1.00 and set a “hold” rating on the stock in a research note on Monday, March 10th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $1.13.

Institutional Investors Weigh In On Wallbox

A number of large investors have recently modified their holdings of WBX. Cubist Systematic Strategies LLC purchased a new position in Wallbox in the 4th quarter worth approximately $32,000. Group One Trading LLC lifted its holdings in Wallbox by 2,888.3% in the 4th quarter. Group One Trading LLC now owns 81,910 shares of the company’s stock worth $41,000 after buying an additional 79,169 shares in the last quarter. Alpine Global Management LLC purchased a new position in Wallbox in the 4th quarter valued at about $54,000. XTX Topco Ltd acquired a new stake in shares of Wallbox during the fourth quarter valued at about $76,000. Finally, JPMorgan Chase & Co. purchased a new stake in shares of Wallbox during the fourth quarter worth about $84,000. Institutional investors and hedge funds own 36.94% of the company’s stock.

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.