Technip Energies (OTCMKTS:THNPF) Shares Climb 16.9% – Time to Buy?

Technip Energies (OTCMKTS:THNPF) was up 16.9% during mid-day trading on Friday. The stock traded as high as $36.45 and last traded at $36.45. Approximately 176 shares traded hands during trading, a decline of 70% from the average session volume of 584 shares. The stock had previously closed at $31.1920.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on THNPF. Royal Bank Of Canada raised Technip Energies from a “sector perform” rating to an “outperform” rating in a research note on Thursday, September 10th. UBS Group upgraded Technip Energies from a “neutral” rating to a “buy” rating in a research note on Wednesday, October 14th. Citigroup reaffirmed a “neutral” rating on shares of Technip Energies in a report on Thursday, September 17th. Finally, The Goldman Sachs Group upgraded Technip Energies from a “neutral” rating to a “buy” rating in a research report on Tuesday, October 13th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy”.

Technip Energies Trading Up 16.9%

The business’s fifty day moving average is $33.18 and its 200 day moving average is $38.09.

About Technip Energies

Technip Energies N.V. is an engineering and technology company that designs and delivers projects for the energy industry. Its activities include project development, engineering, procurement, construction, commissioning and related consulting services for complex energy infrastructure.

The company has expertise in liquefied natural gas (LNG), onshore and offshore facilities, subsea infrastructure, hydrogen, sustainable chemistry and carbon management. Its offerings include proprietary process technologies, modular solutions and engineering services intended to support energy production, processing, transportation and the transition toward lower-carbon systems.

Technip Energies was formed in 2021 through the separation of TechnipFMC’s former Technip segment and is headquartered in Paris, France.