XL Fleet Corp.

XL Fleet Corp. (NYSE: XL) is a North American provider of fleet electrification solutions for commercial vehicles, including infrastructure such as charging stations that allow clients to effectively plug in their electrified vehicles. As of September 30, 2021, XL had sold over 4,400 electrified powertrain systems and had driven over 173 million miles by over 240 fleets.

Key Highlights

• The company reported a 49.43% decline in revenues to USD 3.20 million in Q3FY21 (ended September 30, 2021) compared to USD 6.33 million in Q3FY20.
• Its net losses increased to USD 7.53 million in Q3FY21 from USD 2.28 million in Q3FY20.
• The company is operating at ROE and Net margins of -2.0% and -235.3% in Q3FY21 vs. Industry Medians of 2.4% and 2.8%, respectively.
• On November 23, 2021, the Defense Innovation Unit (DIU) and the US Army's Project Manager Transportation Systems (PM TS) granted XL a contract to develop a fuel-saving solution for military vehicles.
• The stock is currently trading below its key short-term (50-day) and long-term (200-day) DMA support levels and the RSI Index is at 36.37.
• Stock is leaning towards the lower band of the 52-week range of USD 4.26 to USD 35.00.
• In the past six and nine months, XL's share price has fallen 41.25% and 67.32%, respectively.

Technical Price Chart (as of December 01, 2021). Analysis by Kalkine

Conclusion: Considering the significant decline in topline and bottom-line performance, negative margins, uncertain outlook, and technical indicators, we recommend a "Avoid" rating on the stock at the current price of USD 4.53, down 0.22% as of December 01, 2021, at 9:59 AM ET.

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

Triterras, Inc.

Triterras, Inc. (NASDAQ: TRIT) is a financial technology firm. Its technology platform supports commodity trading by connecting and enabling commodity merchants to trade and obtain capital from lenders directly through the internet.

Key Highlights

• The company had not yet released full-year results for the 12 months ended February 28, 2021. Moreover, it has received notification from NASDAQ regarding the delay in publishing results.
• On the liquidity front, TRIT operated at a current ratio of 0.04x in Q3FY20 remained significantly lower than the industry median of 1.86x.
• The stock is currently trading below its key short-term (50-day) and long-term (200-day) DMA support levels and the RSI Index is at 28.31.
• The stock has made a new 52 week low today.
• TRIT's share price has fallen 42.14% and 67.42% in the past nine and twelve months, respectively.

Technical Price Chart (as of December 01, 2021). Analysis by Kalkine

Conclusion: Considering the absence of new financials, uncertain outlook, and other technical indicators, we recommend an "Avoid" rating on the stock at the current price of USD 4.01, down 9.68% as of December 01, 2021, 12:02 PM ET.

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

ElectraMeccanica Vehicles Corp.

ElectraMeccanica Vehicles Corp. (NASDAQ: SOLO) is a Canadian company that designs and manufactures sustainable electric vehicles (EVs). The SOLO, a purpose-built single-seat electric car, is the company's flagship vehicle.

Key Highlights

• The company reported a 55.17% decline in revenues to USD 0.11 million in Q3FY21 (ended September 30, 2021) compared to USD 0.25 million in Q3FY20.
• Its net losses increased to USD 12.85 million in Q3FY21 from USD 11.18 million in Q3FY20.
• Deliveries began on October 04, 2021, and the company delivered 21 SOLO EVs to reservation holders and fleet customers during October 2021.
• On November 01, 2021, SOLO announced that Zongshen Industrial Group, its strategic contract manufacturing partner, had exercised 1.4 million warrants at a CAD 4.00 strike price as of October 28, 2021, resulting in CAD 5.6 million in revenues.
• The stock is currently trading below its key short-term (50-day) and long-term (200-day) DMA support levels and the RSI Index is at 34.16.
• Stock is leaning towards the lower band of the 52-week range of USD 2.85 to USD 9.74.
• SOLO's stock price has fallen 48.32% and 58.03% in the past nine and twelve months, respectively.

Technical Price Chart (as of December 01, 2021). Analysis by Kalkine

Conclusion: Considering the negative bottom-line, uncertain outlook, and other technical indicators, we recommend a "Watch" rating on the stock at the current price of USD 2.93, down 1.01% as of December 01, 2021, 10:14 AM ET.

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

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