Anthony Cannestra Sells 50,000 Shares of Blaize (NASDAQ:BZAI) Stock

Blaize Holdings, Inc. (NASDAQ:BZAI) Director Anthony Cannestra sold 50,000 shares of the stock in a transaction on Monday, July 6th. The stock was sold at an average price of $1.35, for a total value of $67,500.00. Following the completion of the sale, the director owned 50,000 shares in the company, valued at approximately $67,500. The trade was a 50.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Anthony Cannestra also recently made the following trade(s):

• On Monday, June 8th, Anthony Cannestra sold 50,000 shares of Blaize stock. The shares were sold at an average price of $1.68, for a total transaction of $84,000.00.
• On Monday, May 11th, Anthony Cannestra sold 50,000 shares of Blaize stock. The shares were sold at an average price of $1.85, for a total transaction of $92,500.00.

Blaize Trading Down 1.6%

NASDAQ BZAI opened at $1.21 on Friday. The stock has a market cap of $172.18 million, a PE ratio of -1.61 and a beta of 0.08. Blaize Holdings, Inc. has a 12 month low of $1.00 and a 12 month high of $6.76. The company’s 50-day moving average price is $1.57 and its 200-day moving average price is $1.62.

Blaize (NASDAQ:BZAI) last announced its quarterly earnings data on Thursday, May 14th. The company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.06). The company had revenue of $2.74 million for the quarter. Blaize had a negative net margin of 202.65% and a negative return on equity of 551.04%. As a group, sell-side analysts forecast that Blaize Holdings, Inc. will post -0.66 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on BZAI shares. Zacks Research lowered Blaize from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 28th. Weiss Ratings restated a “sell (e+)” rating on shares of Blaize in a report on Wednesday, June 24th. Roth Capital reaffirmed a “buy” rating and set a $4.50 target price on shares of Blaize in a research report on Friday, May 15th. DA Davidson reiterated a “buy” rating and issued a $3.00 target price on shares of Blaize in a report on Wednesday, April 29th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $6.00 price target on shares of Blaize in a research report on Thursday, April 16th. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $4.62.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in BZAI. Vanguard Group Inc. raised its position in shares of Blaize by 301.9% in the 3rd quarter. Vanguard Group Inc. now owns 3,587,998 shares of the company’s stock worth $12,379,000 after acquiring an additional 2,695,204 shares in the last quarter. Renaissance Technologies LLC boosted its position in Blaize by 947.4% during the first quarter. Renaissance Technologies LLC now owns 1,404,159 shares of the company’s stock valued at $2,556,000 after purchasing an additional 1,270,096 shares in the last quarter. Lazard Asset Management LLC purchased a new position in Blaize in the first quarter valued at about $2,192,000. Millennium Management LLC purchased a new position in Blaize in the fourth quarter valued at about $1,887,000. Finally, Themes Management Co LLC bought a new position in Blaize in the first quarter worth about $1,531,000. 97.12% of the stock is currently owned by hedge funds and other institutional investors.

About Blaize

Blaize (NASDAQ: BZAI) is a fabless semiconductor company that designs and develops hardware and software solutions for artificial intelligence (AI) and machine learning applications at the edge. The company’s core technology is centered on its proprietary Graph Streaming Processor (GSP) architecture, which combines dataflow computing with a highly parallel matrix processing engine to deliver real-time AI inference with low power consumption. Blaize’s platform is aimed at customers seeking to deploy sophisticated AI workloads in environments where power efficiency, latency and form factor are critical.

The company offers a hardware portfolio that includes standalone GSP modules, PCIe cards and M.2 form-factor boards, alongside its Blaize AI software stack.