Wallbox N V (WBX)

Wallbox N.V Stock (WBX) dropped by 7.29% from $3.98 to $3.69 in the trading on Wednesday August 02, 2023. The reason why WBX stock down today is due to stock downgrade from several analysts. Analyst downgrades can trigger a chain reaction in the market, affecting the sentiment of investors. This is a headwind causing WBX stock down today.

• TD Cowen downgraded the stock from Outperform to Market Perform and announced a $4 price target.
• Canaccord Genuity lowered its price target from $10 to $8.

Wallbox N.V Stock (WBX) dropped by 10.91% from $3.39 to $3.02 in the trading on Friday June 09, 2023. The reason why WBX stock down today is due to Partnership of GM and Tesla to expand EV charging access. General Motors (GM) and Tesla have announced a groundbreaking partnership that will grant GM EV owners access to Tesla's extensive Supercharger network starting in early 2024. The collaboration is expected to significantly enhance General Motors' EV accessibility, which could make it more difficult for other EV makers to compete with GM, including Wallbox. The news is a headwind causing WBX stock down today.

Wallbox N.V Stock (WBX) dropped by 8.75% from $3.43 to $3.13 in the trading on Tuesday April 25, 2023. The reason why WBX stock down today is due to lower price target by the analyst. Stifel maintained a Buy rating on the stock and lowered its price target from $14 to $9. The price target reduction may reflect a reassessment of Wallbox's valuation in light of recent developments, affecting the investors' sentiment over Wallbox. This news caused WBX stock going down sharply today.

Wallbox N.V Stock (WBX) dropped by 4.76% from $5.67 to $5.40 in the trading on Wednesday March 01, 2023. The reason why WBX stock down today is due to wider-than-expected losses in Q4 results. The company reported a wider-than-expected operating loss of €43.35, nearly double that anticipated by analysts and an adjusted EBITDA loss of €29.1, over triple the consensus expectation. In light of these results, Wallbox announced significant headcount reductions to start 2023.

Wallbox N.V Stock (WBX) dropped by 4.80% from $4.58 to $4.36 in the trading on Thursday January 19, 2023. The reason why WBX stock down today is due to Wallbox's job-cut announcement. Wallbox announced a 15% workforce reduction to align its cost structure with the current demand environment. The company expects annual savings of €50 million from the layoffs and other cost cuts. The company's CEO attributed the job cuts to disruptions in global supply chains that have impacted EV delivery rates. This decision lowered Wallbox's revised 2023 guidance, causing WBX stock down today.