Nano One Materials downgraded to Hold from Buy at TD Securities

TD Securities downgraded Nano One Materials to Hold from Buy with a price target of C$0.90, down from C$3. The firm says Nano One is becoming “increasingly cash-constrained” at a time when electric vehicle demand is slowing and major automotive manufacturers are cancelling capital expansions, the analyst tells investors in a research note. The Hold ratings balanced the continued belief that the company’s technology has real intrinsic value with a challenging industry macro and its limited cash runway, the analyst tells investors in a research note.