Wallbox (NYSE:WBX – Get Rating) was the target of a significant growth in short interest in the month of December. As of December 30th, there was short interest totalling 1,360,000 shares, a growth of 24.8% from the December 15th total of 1,090,000 shares. Based on an average daily volume of 410,600 shares, the short-interest ratio is currently 3.3 days. Currently, 2.8% of the shares of the company are sold short.
Wall Street Analysts Forecast Growth
Several analysts recently commented on the company. Northland Securities assumed coverage on Wallbox in a report on Tuesday, November 22nd. They set an "outperform" rating and a $16.00 target price on the stock. Credit Suisse Group dropped their price objective on Wallbox from $11.00 to $10.00 and set an "outperform" rating on the stock in a report on Friday, December 2nd. UBS Group dropped their price objective on Wallbox from $14.00 to $7.00 and set a "buy" rating on the stock in a report on Tuesday, January 10th. Robert W. Baird dropped their price objective on Wallbox from $20.00 to $14.00 in a report on Thursday, November 10th. Finally, Canaccord Genuity Group dropped their price objective on Wallbox from $14.00 to $13.00 and set a "buy" rating on the stock in a report on Thursday, November 10th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $14.09.
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Institutional Investors Weigh In On Wallbox
Institutional investors have recently modified their holdings of the company. 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 purchasing an additional 4,065 shares in the last quarter. Creative Planning acquired a new position in Wallbox during the 3rd quarter worth $81,000. LPL Financial LLC acquired a new position in Wallbox during the 2nd quarter worth $98,000. Goldman Sachs Group Inc. grew its stake in Wallbox by 17.0% during the 2nd quarter. Goldman Sachs Group Inc. now owns 21,747 shares of the company's stock worth $193,000 after purchasing an additional 3,161 shares in the last quarter. Finally, Prelude Capital Management LLC grew its stake in Wallbox by 61.0% during the 3rd quarter. Prelude Capital Management LLC now owns 27,116 shares of the company's stock worth $214,000 after purchasing an additional 10,271 shares in the last quarter. 5.31% of the stock is owned by institutional investors and hedge funds.
Wallbox Stock Up 8.5 %
WBX stock traded up $0.37 during midday trading on Friday, hitting $4.73. 449,054 shares of the company's stock were exchanged, compared to its average volume of 555,823. The business has a 50-day simple moving average of $4.54 and a two-hundred day simple moving average of $6.92. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.61 and a quick ratio of 1.24. Wallbox has a 1-year low of $3.14 and a 1-year high of $15.59.
About Wallbox
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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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