Wallbox (NYSE:WBX) Stock Falls 0.4% – What’s Next?

Wallbox N.V. (NYSE:WBX)’s stock price traded down 0.4% on Tuesday. The stock traded as low as $2.75 and last traded at $2.75. Approximately 3,340 shares traded hands during mid-day trading, a decline of 78% from the average session volume of 15,328 shares. The stock had previously closed at $2.76.

Analysts Set New Price Targets

WBX has been the subject of several analyst reports. Barclays reiterated an “overweight” rating and issued a $4.00 target price on shares of Wallbox in a research note on Wednesday, July 29th. Weiss Ratings lowered Wallbox from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, October 6th. Finally, UBS Group reiterated a “neutral” rating and issued a $4.00 target price (up from $3.00) on shares of Wallbox in a report on Tuesday, June 30th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $4.33.

Wallbox Stock Performance

The stock has a 50-day moving average price of $3.00 and a 200 day moving average price of $3.25.

Wallbox (NYSE:WBX) last announced its quarterly earnings data on Friday, July 31st. The company reported ($1.81) earnings per share for the quarter, meeting analysts’ consensus estimates of ($1.81). The firm had revenue of $27.30 million during the quarter, compared to analyst estimates of $41.49 million.

Institutional Trading of Wallbox

A hedge fund recently bought a new position in Wallbox stock. GM Advisory Group LLC bought a new stake in Wallbox N.V. (NYSE:WBX) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 17,500 shares of the company’s stock, valued at approximately $43,000. GM Advisory Group LLC owned 0.10% of Wallbox at the end of the most recent quarter. 36.94% of the stock is owned by institutional investors.

About Wallbox

Wallbox N.V. (NYSE: WBX) is a technology company focused on electric vehicle (EV) charging and energy management solutions. The company develops hardware and software designed to help residential, commercial and public-sector customers charge EVs and manage electricity use.

Wallbox’s product portfolio includes AC charging stations for homes and businesses, DC fast-charging systems for commercial and public applications, and bidirectional charging technology that can enable energy to flow between an EV and a building or the electric grid.