Key Points
- Blaize director Anthony Cannestra sold 50,000 shares on June 8 at an average price of $1.68, totaling $84,000. The sale cut his direct ownership by 50% and was made under a pre-arranged Rule 10b5-1 trading plan.
- This was not an isolated transaction; Cannestra also sold 50,000 shares on both April 6 and May 11, indicating a pattern of recent insider selling.
- Blaize has been under pressure financially, with its latest quarterly results missing EPS estimates and showing weak profitability metrics, while analysts currently rate the stock a “Moderate Buy” with an average target price of $4.63.
Blaize Holdings, Inc. (NASDAQ:BZAI - Get Free Report) Director Anthony Cannestra sold 50,000 shares of Blaize stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $1.68, for a total value of $84,000.00. Following the completion of the transaction, the director directly owned 50,000 shares in the company, valued at $84,000. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 value 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 value of $87,500.00.
Blaize Price Performance
Shares of Blaize stock opened at $1.51 on Thursday. The business's 50 day simple moving average is $1.81 and its two-hundred day simple moving average is $1.75. The stock has a market capitalization of $214.16 million, a P/E ratio of -2.01 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.
Blaize (NASDAQ:BZAI - Get Free Report) last announced its quarterly earnings results on Thursday, May 14th. The company reported ($0.19) EPS for the quarter, missing analysts' consensus estimates of ($0.13) by ($0.06). The company had revenue of $2.74 million during the quarter. Blaize had a negative return on equity of 551.04% and a negative net margin of 202.65%. Sell-side analysts expect that Blaize Holdings, Inc. will post -0.66 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
A number of equities analysts have commented on BZAI shares. DA Davidson reaffirmed a "buy" rating and issued a $3.00 price target on shares of Blaize in a research note on Wednesday, April 29th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Blaize in a research note on Friday, March 27th. Roth Mkm reissued a "buy" rating and set a $4.50 target price on shares of Blaize in a research note on Friday, May 15th. Zacks Research cut Blaize from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 28th. Finally, Rosenblatt Securities reissued a "buy" rating and set a $6.00 target price on shares of Blaize in a research note on Thursday, April 16th. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $4.63.
Check Out Our Latest Stock Analysis on BZAI
Hedge Funds Weigh In On Blaize
Hedge funds have recently made changes to their positions in the business. Legal & General Group Plc purchased a new position in shares of Blaize during the third quarter valued at approximately $26,000. Virtu Financial LLC bought a new stake in shares of Blaize during the third quarter valued at approximately $42,000. ProShare Advisors LLC purchased a new stake in Blaize in the third quarter worth $43,000. Resurgent Financial Advisors LLC purchased a new stake in Blaize in the fourth quarter worth $26,000. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in Blaize in the fourth quarter worth $29,000. 97.12% of the stock is owned by hedge funds and other institutional investors.
About Blaize
(
Get Free Report)
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.
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