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

Blaize Holdings, Inc. (NASDAQ:BZAI) Director Anthony Cannestra sold 50,000 shares of Blaize stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $1.75, for a total transaction of $87,500.00. Following the transaction, the director owned 50,000 shares of the company’s stock, valued at approximately $87,500. The trade was a 50.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Blaize Price Performance

BZAI traded up $0.10 during midday trading on Wednesday, reaching $2.03. 4,102,314 shares of the company’s stock were exchanged, compared to its average volume of 4,611,477. The stock has a market capitalization of $248.57 million and a PE ratio of -0.93. The business’s 50-day moving average price is $1.30 and its 200 day moving average price is $2.41. Blaize Holdings, Inc. has a 1-year low of $1.00 and a 1-year high of $6.76.

Hedge Funds Weigh In On Blaize

A number of institutional investors have recently modified their holdings of BZAI. Vanguard Group Inc. increased its position in Blaize by 301.9% during the third quarter. Vanguard Group Inc. now owns 3,587,998 shares of the company’s stock worth $12,379,000 after purchasing an additional 2,695,204 shares during the last quarter. Millennium Management LLC acquired a new position in Blaize during the fourth quarter worth approximately $1,887,000. UBS Group AG increased its position in Blaize by 153.4% during the fourth quarter. UBS Group AG now owns 1,343,035 shares of the company’s stock worth $2,619,000 after purchasing an additional 813,121 shares during the last quarter. Cantor Fitzgerald L. P. acquired a new position in Blaize during the fourth quarter worth approximately $1,500,000. Finally, Polar Asset Management Partners Inc. acquired a new position in Blaize during the fourth quarter worth approximately $759,000. Institutional investors and hedge funds own 97.12% of the company’s stock.

Analysts Set New Price Targets

BZAI has been the subject of a number of research reports. Rosenblatt Securities restated a “buy” rating and set a $6.00 target price on shares of Blaize in a research report on Wednesday, March 25th. B. Riley Financial cut their price objective on shares of Blaize from $8.00 to $5.00 and set a “buy” rating for the company in a research report on Wednesday, March 25th. Weiss Ratings reissued a “sell (e+)” rating on shares of Blaize in a research report on Friday, March 27th. Finally, Zacks Research raised shares of Blaize from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 30th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $6.50.

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.