Technip Energies (OTCMKTS:THNPY) Shares Gap Up – Still a Buy?

Technip Energies (OTCMKTS:THNPY) shares gapped up before the market opened on Thursday. The stock had previously closed at $35.3950, but opened at $39.3550. Technip Energies shares last traded at $39.32, with a volume of 792 shares traded.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on THNPY shares. Zacks Research raised Technip Energies from a “strong sell” rating to a “hold” rating in a research note on Monday, October 5th. Royal Bank Of Canada raised Technip Energies from a “hold” rating to a “moderate buy” rating in a research note on Thursday, September 10th. Finally, UBS Group upgraded shares of Technip Energies from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 14th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy”.

Technip Energies Price Performance

The company’s 50-day moving average price is $34.10 and its 200 day moving average price is $38.66. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.04 and a quick ratio of 1.04.

Technip Energies (OTCMKTS:THNPY) last announced its quarterly earnings results on Thursday, October 29th. The company reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.63 by ($0.05). Technip Energies had a net margin of 3.58% and a return on equity of 12.18%. The company had revenue of $2.17 billion for the quarter, compared to analysts’ expectations of $2.33 billion. As a group, research analysts forecast that Technip Energies will post 1.94 earnings per share for the current year.

About Technip Energies

Technip Energies N.V. is an engineering and technology company that delivers projects and services for the energy industry. Its activities include project development, engineering, procurement, construction management, technology licensing and consulting for large-scale energy infrastructure.

The company has particular expertise in liquefied natural gas (LNG), including LNG production facilities, floating LNG solutions and related infrastructure. It also works on hydrogen, sustainable chemistry, carbon management and other lower-carbon energy technologies, as well as refining and petrochemical projects.

Technip Energies was established in 2021 following the separation of TechnipFMC’s onshore engineering and technology business.