UBS Group Lowers Wallbox (NYSE:WBX) Price Target to $3.00

Wallbox (NYSE:WBX) had its price objective reduced by investment analysts at UBS Group from $4.00 to $3.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. UBS Group’s price target points to a potential downside of 7.55% from the stock’s current price.

Wallbox Stock Up 6.7%

Shares of Wallbox stock traded up $0.21 during trading on Thursday, reaching $3.25. 41,375 shares of the company traded hands, compared to its average volume of 18,997. The company has a 50 day moving average price of $2.87 and a 200-day moving average price of $3.57. Wallbox has a 1-year low of $2.30 and a 1-year high of $8.00.

Wallbox (NYSE:WBX) last released its quarterly earnings data on Wednesday, March 4th. The company reported ($0.16) earnings per share for the quarter, topping the consensus estimate of ($0.70) by $0.54. The firm had revenue of $39.55 million for the quarter, compared to the consensus estimate of $42.82 million. Wallbox had a negative net margin of 71.11% and a negative return on equity of 569.20%.

About Wallbox

Wallbox is a global provider of electric vehicle (EV) charging solutions, offering hardware and software designed to simplify and optimize the charging experience for residential, commercial and public applications. The company’s product lineup includes smart home chargers, DC fast chargers for fleet and commercial use, and energy management systems that integrate with solar panels and battery storage. Through its myWallbox software platform, users can remotely monitor and control charging sessions, track energy consumption and set custom charging schedules.

Headquartered in Barcelona, Spain, Wallbox has expanded its operations across Europe, North America, Asia and Australia, establishing regional offices and service centers to support customers and channel partners.