Blaize Holdings, Inc. (NASDAQ:BZAI) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Blaize Holdings, Inc. (NASDAQ:BZAI) have received a consensus rating of “Moderate Buy” from the six brokerages that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $4.6250.

Several analysts recently issued reports on the stock. Zacks Research downgraded shares of Blaize from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 28th. Wall Street Zen downgraded shares of Blaize from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 16th. Rosenblatt Securities reissued a “buy” rating and issued a $6.00 price target on shares of Blaize in a research report on Thursday, April 16th. DA Davidson reissued a “buy” rating and issued a $3.00 price target on shares of Blaize in a research report on Wednesday, April 29th. Finally, Roth Mkm reissued a “buy” rating and issued a $4.50 price target on shares of Blaize in a research report on Friday, May 15th.

Blaize Trading Up 7.7%

NASDAQ BZAI opened at $1.40 on Friday. The company has a fifty day simple moving average of $1.68 and a 200 day simple moving average of $1.89. Blaize has a 12-month low of $1.00 and a 12-month high of $6.76. The company has a market cap of $172.63 million, a P/E ratio of -1.87 and a beta of 0.08.

Blaize (NASDAQ:BZAI) last posted its quarterly earnings results on Thursday, May 14th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $2.74 million during the quarter. Sell-side analysts predict that Blaize will post -0.48 EPS for the current year.

Insiders Place Their Bets

In other Blaize news, Director Anthony Cannestra sold 50,000 shares of Blaize stock in a transaction on Monday, April 6th. The shares were sold at an average price of $1.75, for a total transaction of $87,500.00. Following the transaction, the director directly owned 50,000 shares of the company’s stock, valued at $87,500. The trade was a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Dinakar Munagala sold 50,000 shares of Blaize stock in a transaction on Friday, April 17th. The stock was sold at an average price of $2.54, for a total transaction of $127,000.00. Following the transaction, the chief executive officer directly owned 551,422 shares in the company, valued at $1,400,611.88. This represents a 8.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 314,069 shares of company stock valued at $668,489 in the last three months. 17.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Blaize

A number of hedge funds have recently bought and sold shares of the company. Bank of America Corp DE boosted its holdings in Blaize by 11.4% during the 1st quarter. Bank of America Corp DE now owns 93,844 shares of the company’s stock worth $171,000 after acquiring an additional 9,598 shares during the last quarter. Lazard Asset Management LLC purchased a new position in Blaize during the 1st quarter worth $2,192,000. Themes Management Co LLC purchased a new position in Blaize during the 1st quarter worth $1,531,000. Renaissance Technologies LLC boosted its holdings in Blaize by 947.4% during the 1st quarter. Renaissance Technologies LLC now owns 1,404,159 shares of the company’s stock worth $2,556,000 after acquiring an additional 1,270,096 shares during the last quarter. Finally, Cetera Investment Advisers boosted its holdings in Blaize by 125.3% during the 1st quarter. Cetera Investment Advisers now owns 44,284 shares of the company’s stock worth $81,000 after acquiring an additional 24,625 shares during the last quarter. 97.12% of the stock is owned by hedge funds and other institutional investors.

Blaize Company Profile

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.