Mission Wealth Management and Mirae Asset Global Investments have lowered their holdings in Baker Hughes (NASDAQ:BKR) while Wakefield Asset Management and Sumitomo Mitsui Trust Holdings Inc. have increased their positions. Baker Hughes has expanded its partnership with a service agreement, launched 3 new hydrogen measurement solutions, and signed a major contract for the Hassi R'Mel Project. Despite stock underperformance against competitors on several occasions, the Company displayed admirable Q1 2024 earnings, thanks to strong international demand, surpassing revenue prediction. This scenario has led to increased speculation that it could be a promising turnaround play. With compelling financial prospects, the firm seems to be a viable value stock choice for the long-term. Through the successful execution of important contracts and a strategic focus on hydrogen-ready technology in collaboration with Snam, Baker Hughes demonstrates commitment to innovation and growth, inspiring the interest of market participants. However, recent challenges such as a drop in North America's drilling spending forecast and weakened earnings signal potential risks.
Baker Hughes Company BKR News Analytics from Mon, 09 Oct 2023 07:00:00 GMT to Sun, 07 Jul 2024 14:00:58 GMT -
Rating 1
- Innovation 8
- Information 5
- Rumor -1
