Ballard Power Systems Inc.

Ballard Power Systems Inc. (NASDAQ: BLDP) is a growing clean energy company. Designing, developing, manufacturing, selling, and servicing fuel cell products is the company's primary business. Its main source of revenue comes from China, although it also has operations in Germany, Belgium, Japan, Denmark, the United Kingdom, and other nations.

Key Highlights:

• In Q3FY21 (ended September 30, 2021), the company reported revenues of USD 25.22 million, compared to USD 25.62 million in Q3FY20.
• Net loss for Q3FY21 increased to USD 30.85 million from USD 11.76 million reported in Q3FY20, attributable to high research and development (R&D) expenditure.
• BLDP reported a decline in gross margin to 11.2% in Q3FY21 from 15.2% in Q3FY21.
• It operates at a very long cash conversion cycle of 299 days in Q3FY21 vs. the industry Median of 82 days.
• Stock is currently trading below its crucial short-term (50-day) and long-term (200-day) DMA support levels, indicating a bearish trend.
• Stock is currently leaning towards the lower end of the 52-week range of USD 10.85 to USD 42.28.
• BLDP stock price has declined 46.44% and 69.79% in the past nine and twelve months.

Technical Price Chart (as of January 13, 2022). Analysis by Kalkine

Conclusion: Considering the increase in losses, operating with weak fundamentals, and technical indicators, we recommend an "Avoid" rating on the stock at the current price of USD 11.05, down 1.60% as of January 13, 2022, at 3:14 PM ET.

*The reference data in this report has been partly sourced from REFINITIV.

C3.ai, Inc.

C3.ai, Inc. (NYSE: AI) is a company that specializes in artificial intelligence for businesses. It offers software-as-a-service (SaaS) applications that let companies quickly design, deploy, and run large-scale Enterprise AI applications on any infrastructure.

Key Highlights:

• In Q2FY22 (ended October 31, 2021), the company reported revenues of USD 58.26 million, compared to USD 41.34 million in Q2FY21.
• Net loss for Q2FY22 increased to USD 56.74 million from USD 14.94 million reported in Q2FY21, attributable to high research and development (R&D) and sales and marketing expenditure.
• AI reported a decline in gross margin to 70.6% in Q2FY22 from 75.1% in Q1FY22.
• It also operates at a long cash conversion cycle of 39 days in Q2FY22 vs. the industry Median of 13 days.
• Stock is currently trading below its crucial short-term (50-day) and long-term (200-day) DMA support levels, indicating a bearish trend.
• Stock is currently leaning towards the lower end of the 52-week range of USD 27.52 to USD 176.94.
• AI stock price has declined 57.23% and 80.13% in the past nine and twelve months.

Technical Price Chart (as of January 13, 2022). Analysis by Kalkine

Conclusion: Considering the increase in losses, decline in margins, macroeconomic factors, and technical indicators, we recommend an "Avoid" rating on the stock at the current price of USD 28.44, down 5.95% as of January 13, 2022, at 3:23 PM ET.

*The reference data in this report has been partly sourced from REFINITIV.

Silverback Therapeutics, Inc.

Silverback Therapeutics, Inc. (NASDAQ: SBTX) is a clinical-stage biopharmaceutical company focusing on developing tissue-targeted therapeutics to treat cancer, chronic viral infections, and other serious diseases using its proprietary ImmunoTAC technology platform.

Key Highlights:

• The company has yet to report revenue from its operations.
• Net loss for Q3FY21 increased to USD 22.66 million from USD 8.12 million reported in Q3FY20, attributable to high research and development expenses.
• On November 12, 2021, SBTX announced the positive results from the preclinical data for SBT8230.
• Stock is currently trading below its crucial short-term (50-day) and long-term (200-day) DMA support levels, indicating a bearish trend.
• Stock is currently leaning towards the lower end of the 52-week range of USD 5.11 to USD 63.41.
• SBTX stock price has declined 83.67% and 87.42% in the past six and nine months.

Technical Price Chart (as of January 13, 2022). Analysis by Kalkine

Conclusion: Considering the increase in losses, lack of visibility in topline performance, and technical indicators, we recommend an "Avoid" rating on the stock at the current price of USD 4.90, down 4.30% as of January 13, 2022, at 3:10 PM ET.

*The reference data in this report has been partly sourced from REFINITIV.

AppHarvest, Inc.

AppHarvest, Inc. (NASDAQ: APPH) is an Appalachian applied technology company, building and operating some of the world's largest high-tech indoor farms to grow non-GMO, chemical pesticide-free produce with rainwater.

Key Highlights:

• In Q3FY21 (ended September 30, 2021), the company reported net sales of USD 0.54 million, compared to zero revenues in the prior-year quarter.
• However, APPH witnessed an increase in operating losses to USD 32.34 million in Q3FY21 from USD 5.72 million in Q3FY20.
• APPH reported a gross margin of -1277.9% in Q3FY21 compared to an industry mean of 26.1%, indicating poor fundamentals.
• On December 15, 2021, APPH stated that it had agreed with B. Riley Principal Capital, a financial advisor and capital provider, to purchase USD 100 million in common stock.
• Stock is currently trading below its crucial short-term (50-day) and long-term (200-day) DMA support levels, indicating a bearish trend.
• The stock has been in a bearish trend for the past nine months.
• APPH stock price has declined 70.76% and 76.34% in the past six and nine months.

Technical Price Chart (as of January 13, 2022). Analysis by Kalkine

Conclusion: Considering the increase in operating losses, poor financials, dull margins, and technical indicators, we recommend an "Avoid" rating on the stock at the current price of USD 3.83, down 2.30% as of January 13, 2022, at 3:03 PM ET.

*The reference data in this report has been partly sourced from REFINITIV. 

Disclaimer

The advice given by Kalkine Canada Advisory Services Inc. and provided on this website is general information only and it does not take into account your investment objectives, financial situation and the particular needs of any particular person. You should therefore consider whether the advice is appropriate to your investment objectives, financial situation and needs before acting upon it. You should seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice. Not all investments are appropriate for all people. The website www.kalkine.ca is published by Kalkine Canada Advisory Services Inc. The link to our Terms & Conditions has been provided please go through them. On the date of publishing this report (mentioned on the website), employees and/or associates of Kalkine do not hold positions in any of the stocks covered on the website. These stocks can change any time and readers of the reports should not consider these stocks as advice or recommendations later.