Wallbox (NYSE:WBX) Shares Up 0.7% – Here’s What Happened

Wallbox N.V. (NYSE:WBX)’s stock price shot up 0.7% during trading on Monday . The company traded as high as $3.08 and last traded at $2.9510. 7,407 shares were traded during trading, a decline of 64% from the average session volume of 20,747 shares. The stock had previously closed at $2.93.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on WBX. Barclays reiterated an “overweight” rating and issued a $4.00 price target on shares of Wallbox in a report on Wednesday, July 29th. UBS Group reiterated a “neutral” rating and set a $4.00 target price (up from $3.00) on shares of Wallbox in a research note on Tuesday, June 30th. Finally, Weiss Ratings raised shares of Wallbox from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, July 30th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Wallbox presently has an average rating of “Hold” and a consensus price target of $4.33.

Wallbox Price Performance

The firm has a fifty day moving average of $3.87 and a 200-day moving average of $3.23.

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

Insider Activity

In other news, CEO Enric Asuncion Escorsa acquired 325,885 shares of the business’s stock in a transaction that occurred on Tuesday, June 30th. The shares were purchased at an average cost of $2.72 per share, for a total transaction 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. This trade represents a 36.49% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Francisco Jose Riberas Mera bought 501,361 shares of Wallbox stock in a transaction on Tuesday, June 30th. The shares were purchased at an average cost of $2.72 per share, with a total value of $1,363,701.92. Following the completion of the purchase, the director directly owned 2,539,771 shares in the company, valued at $6,908,177.12. This trade represents a 24.60% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders acquired 1,829,968 shares of company stock worth $4,977,513 in the last 90 days.

Institutional Trading of Wallbox

A hedge fund recently bought a new stake in Wallbox stock. GM Advisory Group LLC purchased a new position in shares of Wallbox N.V. (NYSE:WBX) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 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 filing with the Securities and Exchange Commission. Institutional investors own 36.94% of the company’s stock.

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.