Wallbox (NYSE:WBX) Trading 2% Higher – Still a Buy?

Wallbox N.V. (NYSE:WBX)’s stock price traded up 2% on Monday . The company traded as high as $3.22 and last traded at $3.06. 22,234 shares were traded during mid-day trading, an increase of 75% from the average session volume of 12,698 shares. The stock had previously closed at $3.00.

Analyst Ratings Changes

A number of research analysts have issued reports on WBX shares. Weiss Ratings raised Wallbox from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, July 30th. Barclays reaffirmed an “overweight” rating and issued a $4.00 target price on shares of Wallbox in a report on Wednesday, July 29th. Finally, UBS Group restated a “neutral” rating and issued a $4.00 price target (up from $3.00) on shares of Wallbox in a research 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 company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $4.33.

Wallbox Price Performance

The business has a 50 day simple moving average of $3.35 and a 200 day simple moving average of $3.24.

Wallbox (NYSE:WBX) last issued its quarterly earnings results on Friday, July 31st. The company reported ($1.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.81) by ($0.09). The company had revenue of $27.30 million for the quarter, compared to analyst estimates of $41.49 million. Wallbox had a negative return on equity of 6,451.74% and a negative net margin of 70.12%.

Insider Activity at Wallbox

In related news, Director Marc Sabe Richer purchased 501,361 shares of the stock in a transaction that occurred on Tuesday, June 30th. The stock was acquired at an average price of $2.72 per share, with a total value of $1,363,701.92. Following the completion of the acquisition, the director directly owned 1,512,758 shares in the company, valued at approximately $4,114,701.76. This trade represents a 49.57% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Enric Asuncion Escorsa acquired 325,885 shares of the company’s stock in a transaction that occurred on Tuesday, June 30th. The stock was bought at an average price of $2.72 per share, with a total value of $886,407.20. Following the transaction, the chief executive officer directly owned 1,218,952 shares in the company, valued at $3,315,549.44. The trade was a 36.49% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders acquired 1,829,968 shares of company stock valued at $4,977,513 over the last three months.

Hedge Funds Weigh In On Wallbox

A hedge fund recently bought a new stake in Wallbox stock. GM Advisory Group LLC acquired a new position in Wallbox N.V. (NYSE:WBX) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 17,500 shares of the company’s stock, valued at approximately $43,000. GM Advisory Group LLC owned 0.10% of Wallbox as of its most recent SEC filing. Institutional investors own 36.94% of the company’s stock.

About Wallbox

Wallbox N.V. is a technology company that develops electric vehicle (EV) charging and energy-management solutions. Its products are designed for residential, commercial, fleet and public-charging applications, helping EV owners and operators manage charging through connected hardware and software.

The company’s product portfolio includes AC charging stations such as the Pulsar and Copper families, DC fast-charging systems including Supernova, and bidirectional charging technology such as Quasar.