Blaize Holdings, Inc. (NASDAQ:BZAI) Given Consensus Recommendation of “Hold” by Brokerages

Blaize Holdings, Inc. (NASDAQ:BZAI) has earned an average recommendation of “Hold” from the six analysts that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $3.3750.

A number of research analysts have recently issued reports on the company. DA Davidson reiterated a “neutral” rating and issued a $1.00 price target (down from $3.00) on shares of Blaize in a report on Friday, August 14th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Blaize in a research report on Wednesday, June 24th. Finally, B. Riley Financial reduced their target price on shares of Blaize from $4.00 to $2.00 and set a “buy” rating for the company in a report on Friday, August 14th.

Blaize Stock Up 4.6%

Shares of BZAI stock opened at $0.62 on Friday. The firm has a market cap of $89.10 million, a price-to-earnings ratio of -0.90 and a beta of 0.08. The company’s 50 day moving average is $0.76 and its 200 day moving average is $1.29. Blaize has a 52-week low of $0.42 and a 52-week high of $6.76.

Blaize (NASDAQ:BZAI) last posted its earnings results on Thursday, August 13th. The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.01). The company had revenue of $11.99 million for the quarter. Blaize had a negative return on equity of 306.51% and a negative net margin of 160.85%. Analysts anticipate that Blaize will post -0.76 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Anthony Cannestra sold 50,000 shares of the stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $1.35, for a total transaction of $67,500.00. Following the completion of the sale, the director owned 50,000 shares of the company’s stock, valued at $67,500. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Harminder Sehmi sold 40,609 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $1.37, for a total transaction of $55,634.33. Following the completion of the sale, the chief financial officer owned 259,773 shares of the company’s stock, valued at approximately $355,889.01. This trade represents a 13.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 17.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Blaize

A number of large investors have recently made changes to their positions in BZAI. Renaissance Technologies LLC raised its stake in Blaize by 947.4% in the first quarter. Renaissance Technologies LLC now owns 1,404,159 shares of the company’s stock valued at $2,556,000 after buying an additional 1,270,096 shares during the last quarter. BlackRock Inc. purchased a new stake in shares of Blaize during the second quarter worth about $10,194,000. Lazard Asset Management LLC purchased a new stake in shares of Blaize during the first quarter worth about $2,192,000. Themes Management Co LLC acquired a new position in shares of Blaize during the first quarter valued at about $1,531,000. Finally, UBS Group AG increased its holdings in shares of Blaize by 153.4% during 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 in the last quarter. 97.12% of the stock is owned by institutional investors and hedge funds.

About Blaize

Blaize, Inc is an artificial intelligence computing company that develops hardware and software for running AI applications at the edge. Its technology is designed to process data locally on devices and systems, reducing the need to send information to centralized cloud infrastructure and supporting applications that require low latency, lower power consumption, or enhanced data privacy.

The company’s offerings include purpose-built edge AI processors, embedded computing platforms, and software tools for developing and deploying machine-learning models.