Blaize (NASDAQ:BZAI) Stock Rating Reaffirmed as Buy by Rosenblatt Securities

Blaize (NASDAQ:BZAI)‘s stock had its “buy” rating reiterated by equities research analysts at Rosenblatt Securities in a research note issued to investors on Thursday, October 1st, Benzinga reports. They currently have a $2.00 target price on the stock.

A number of other research firms also recently issued reports on BZAI. Weiss Ratings restated a “sell (e+)” rating on shares of Blaize in a research note on Monday, September 21st. DA Davidson restated a “neutral” rating and issued a $1.00 price target (down from $3.00) on shares of Blaize in a research note on Friday, August 14th. Finally, B. Riley Financial dropped their price target on Blaize from $4.00 to $2.00 and set a “buy” rating on the stock in a research note on Friday, August 14th. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $1.98.

Blaize Stock Down 1.0%

Shares of NASDAQ:BZAI traded down $0.00 during trading on Thursday, hitting $0.29. The stock had a trading volume of 3,164,784 shares, compared to its average volume of 3,506,008. Blaize has a 12 month low of $0.26 and a 12 month high of $6.76. The firm’s fifty day moving average is $0.60 and its 200 day moving average is $1.22.

Blaize (NASDAQ:BZAI) last posted its quarterly earnings data 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). Blaize had a negative net margin of 160.85% and a negative return on equity of 306.51%. The company had revenue of $11.99 million for the quarter. As a group, equities research analysts anticipate that Blaize will post -0.76 EPS for the current fiscal year.

Hedge Funds Weigh In On Blaize

Institutional investors and hedge funds have recently bought and sold shares of the stock. Renaissance Technologies LLC lifted its position in shares of 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 acquiring an additional 1,270,096 shares in the last quarter. BlackRock Inc. purchased a new position in shares of Blaize in the second quarter valued at about $10,194,000. Lazard Asset Management LLC purchased a new position in shares of Blaize in the first quarter valued at about $2,192,000. Themes Management Co LLC purchased a new position in shares of Blaize in the first quarter valued at about $1,531,000. Finally, Cetera Investment Advisers lifted its position in shares of Blaize by 125.3% in the first quarter. Cetera Investment Advisers now owns 44,284 shares of the company’s stock valued at $81,000 after acquiring an additional 24,625 shares in the last quarter. 97.12% of the stock is currently owned by hedge funds and other institutional investors.

Blaize Company Profile

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.