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May 08, 2023

Portolan Capital Management LLC Makes New $1.83 Million Investment in Wallbox (NYSE:WBX)

Portolan Capital Management LLC purchased a new position in shares of Wallbox

Portolan Capital Management LLC purchased a new position in shares of Wallbox (NYSE:WBX - Get Rating) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 509,860 shares of the company's stock, valued at approximately $1,825,000. Portolan Capital Management LLC owned approximately 0.32% of Wallbox at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. First Trust Advisors LP bought a new stake in shares of Wallbox during the 1st quarter worth about $12,279,000. Bank of America Corp DE raised its stake in shares of Wallbox by 170.0% in the 4th quarter. Bank of America Corp DE now owns 401,890 shares of the company's stock worth $1,439,000 after buying an additional 253,038 shares in the last quarter. Toroso Investments LLC raised its stake in shares of Wallbox by 49.5% in the 3rd quarter. Toroso Investments LLC now owns 124,978 shares of the company's stock worth $985,000 after buying an additional 41,387 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Wallbox by 646.9% in the 1st quarter. JPMorgan Chase & Co. now owns 121,909 shares of the company's stock worth $1,554,000 after buying an additional 105,586 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Wallbox in the 3rd quarter worth approximately $661,000. 5.31% of the stock is currently owned by institutional investors.

WBX has been the topic of a number of research reports. Robert W. Baird dropped their target price on shares of Wallbox from $11.00 to $7.00 in a report on Friday, May 5th. Barclays cut their target price on Wallbox from $14.00 to $7.00 and set an "overweight" rating on the stock in a research report on Wednesday, March 22nd. Stifel Nicolaus cut their target price on Wallbox from $14.00 to $9.00 in a research report on Tuesday, April 25th. Credit Suisse Group cut their target price on Wallbox from $10.00 to $9.00 and set an "outperform" rating on the stock in a research report on Friday, March 17th. Finally, Chardan Capital restated a "buy" rating and set a $12.00 price target on shares of Wallbox in a report on Tuesday, April 18th. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $10.44.

Wallbox stock traded down $0.25 during trading hours on Friday, hitting $3.14. The company had a trading volume of 250,923 shares, compared to its average volume of 593,715. The company has a quick ratio of 0.83, a current ratio of 1.43 and a debt-to-equity ratio of 0.26. The firm's fifty day moving average is $3.42 and its 200-day moving average is $4.33. Wallbox has a fifty-two week low of $2.44 and a fifty-two week high of $11.25.

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; Quasar1 & 2, 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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