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 company’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $1.68, for a total transaction of $84,000.00. Following the completion of the sale, the director owned 50,000 shares of the company’s stock, valued at $84,000. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, May 11th, Anthony Cannestra sold 50,000 shares of Blaize stock. The stock was sold at an average price of $1.85, for a total transaction of $92,500.00.
• On Monday, April 6th, Anthony Cannestra sold 50,000 shares of Blaize stock. The stock was sold at an average price of $1.75, for a total transaction of $87,500.00.

Blaize Price Performance

NASDAQ:BZAI traded down $0.02 during trading hours on Wednesday, reaching $1.59. The company’s stock had a trading volume of 877,000 shares, compared to its average volume of 7,107,854. The company has a market cap of $225.55 million, a price-to-earnings ratio of -2.11 and a beta of 0.05. Blaize Holdings, Inc. has a one year low of $1.00 and a one year high of $6.76. The business’s 50-day moving average is $1.81 and its 200-day moving average is $1.76.

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

Hedge Funds Weigh In On Blaize

A number of hedge funds have recently modified their holdings of BZAI. UBS Group AG raised its stake in shares of Blaize by 153.4% in the fourth quarter. UBS Group AG now owns 1,343,035 shares of the company’s stock valued at $2,619,000 after acquiring an additional 813,121 shares during the last quarter. ExodusPoint Capital Management LP bought a new position in shares of Blaize in the fourth quarter valued at approximately $91,000. Aristides Capital LLC bought a new position in shares of Blaize in the fourth quarter valued at approximately $86,000. Virtu Financial LLC raised its stake in shares of Blaize by 179.1% in the fourth quarter. Virtu Financial LLC now owns 33,641 shares of the company’s stock valued at $66,000 after acquiring an additional 21,589 shares during the last quarter. Finally, Resurgent Financial Advisors LLC bought a new position in shares of Blaize in the fourth quarter valued at approximately $26,000. 97.12% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on BZAI shares. Rosenblatt Securities reissued a “buy” rating and set a $6.00 price objective on shares of Blaize in a research report on Thursday, April 16th. Weiss Ratings reissued a “sell (e+)” rating on shares of Blaize in a research report on Friday, March 27th. Roth Mkm reissued a “buy” rating and set a $4.50 price objective on shares of Blaize in a research report on Friday, May 15th. DA Davidson reissued a “buy” rating and set a $3.00 price objective on shares of Blaize in a research report on Wednesday, April 29th. Finally, Zacks Research cut Blaize from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 28th. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $4.63.

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.