Wallbox (NYSE:WBX) Short Interest Down 16.2% in March

Wallbox (NYSE:WBX) was the target of a significant decrease in short interest during the month of March. As of March 31st, there was short interest totalling 2,180,000 shares, a decrease of 16.2% from the March 15th total of 2,600,000 shares. Currently, 2.7% of the shares of the stock are sold short. Based on an average trading volume of 536,400 shares, the days-to-cover ratio is currently 4.1 days.

Analysts Set New Price Targets

WBX has been the subject of a number of research reports. Canaccord Genuity Group cut their price objective on Wallbox from $1.50 to $1.00 and set a “buy” rating for the company in a report on Friday, February 28th. UBS Group dropped their target price on Wallbox from $1.25 to $0.50 and set a “neutral” rating for the company in a report on Monday, January 27th. Chardan Capital upgraded Wallbox to a “hold” rating in a research report on Monday, March 24th. Finally, Stifel Nicolaus cut their target price on shares of Wallbox from $1.50 to $1.00 and set a “hold” rating on the stock in a report on Monday, March 10th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $1.13.

Wallbox Stock Performance

Shares of NYSE:WBX opened at $0.37 on Wednesday. The stock’s 50-day moving average is $0.38 and its 200 day moving average is $0.57. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.68 and a current ratio of 1.16. Wallbox has a 1 year low of $0.25 and a 1 year high of $1.64.

Institutional Investors Weigh In On Wallbox

A number of large investors have recently made changes to their positions in the business. Cubist Systematic Strategies LLC bought a new position in shares of Wallbox during the fourth quarter valued at approximately $32,000. Group One Trading LLC increased its position in Wallbox by 2,888.3% during the 4th quarter. Group One Trading LLC now owns 81,910 shares of the company’s stock valued at $41,000 after purchasing an additional 79,169 shares during the period. Alpine Global Management LLC bought a new position in Wallbox in the 4th quarter worth $54,000. XTX Topco Ltd purchased a new stake in shares of Wallbox in the 4th quarter worth about $76,000. Finally, JPMorgan Chase & Co. bought a new stake in shares of Wallbox during the 4th quarter valued at about $84,000. 36.94% of the stock is currently owned by institutional investors.

Wallbox Company Profile

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.