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Oct 20, 2023

Wallbox (NYSE:WBX) Receives Consensus Rating of "Buy" from Brokerages

Shares of Wallbox (NYSE:WBX - Get Rating) have been given a consensus rating of

Shares of Wallbox (NYSE:WBX - Get Rating) have been given a consensus rating of "Buy" by the nine ratings firms that are presently covering the stock, MarketBeat reports. Seven investment analysts have rated the stock with a buy rating. The average 12 month price target among analysts that have issued a report on the stock in the last year is $10.44.

A number of brokerages have issued reports on WBX. Stifel Nicolaus decreased their price target on Wallbox from $14.00 to $9.00 in a research note on Tuesday, April 25th. Credit Suisse Group dropped their target price on Wallbox from $10.00 to $9.00 and set an "outperform" rating on the stock in a report on Friday, March 17th. Chardan Capital restated a "buy" rating and set a $12.00 price objective on shares of Wallbox in a report on Tuesday, April 18th. 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. Finally, Robert W. Baird cut their target price on Wallbox from $11.00 to $7.00 in a research report on Friday, May 5th.

Shares of NYSE:WBX opened at $3.16 on Friday. The stock's 50-day moving average price is $3.46 and its two-hundred day moving average price is $4.38. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.43 and a quick ratio of 0.83. Wallbox has a 12-month low of $2.44 and a 12-month high of $11.25.

Institutional investors have recently added to or reduced their stakes in the stock. Advisors Asset Management Inc. grew its stake in Wallbox by 207.5% during the 3rd quarter. Advisors Asset Management Inc. now owns 6,024 shares of the company's stock worth $47,000 after buying an additional 4,065 shares during the last quarter. Creative Planning bought a new position in shares of Wallbox in the third quarter worth $81,000. LPL Financial LLC bought a new position in shares of Wallbox in the second quarter worth $98,000. NEIRG Wealth Management LLC bought a new position in shares of Wallbox in the first quarter worth $58,000. Finally, Jane Street Group LLC bought a new position in shares of Wallbox in the fourth quarter worth $46,000. 5.31% of the stock is currently owned by institutional investors.

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; Quasar, 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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