Wallbox (NYSE:WBX) Stock Price Up 8% – Should You Buy?

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

Analyst Upgrades and Downgrades

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

Wallbox Stock Performance

The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.68 and a current ratio of 1.16. The business’s 50-day moving average is $0.59 and its 200 day moving average is $1.03.

Institutional Investors Weigh In On Wallbox

An institutional investor recently bought a new position in Wallbox stock. J. Stern & Co. LLP purchased a new position in shares of Wallbox (NYSE:WBX) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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.