Key Points
- Blaize director Anthony Cannestra sold 50,000 shares on July 6 at an average price of $1.35, totaling $67,500. The sale was made under a pre-arranged Rule 10b5-1 plan, and reduced his ownership by 50%.
- Cannestra had also sold 50,000 shares in both May and June, indicating a series of insider sales over the past few months.
- Blaize shares were down 4.3% and the company recently reported a quarterly EPS miss, while analysts currently hold a Moderate Buy consensus with a $4.62 price target.
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, July 6th. The shares were sold at an average price of $1.35, for a total transaction of $67,500.00. Following the transaction, the director directly owned 50,000 shares in the company, valued at approximately $67,500. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Anthony Cannestra also recently made the following trade(s):
- On Monday, June 8th, Anthony Cannestra sold 50,000 shares of Blaize stock. The stock was sold at an average price of $1.68, for a total transaction of $84,000.00.
- 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 transaction of $92,500.00.
Blaize Stock Down 4.3%
Blaize stock opened at $1.23 on Thursday. The firm has a fifty day moving average of $1.59 and a 200-day moving average of $1.63. Blaize Holdings, Inc. has a 52-week low of $1.00 and a 52-week high of $6.76. The firm has a market capitalization of $175.03 million, a P/E ratio of -1.64 and a beta of 0.08.
Blaize (NASDAQ:BZAI - Get Free Report) last posted its earnings results on Thursday, May 14th. The company reported ($0.19) earnings per share 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 for the quarter. On average, research analysts expect that Blaize Holdings, Inc. will post -0.66 EPS for the current fiscal year.
Institutional Investors Weigh In On Blaize
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Blaize by 301.9% in the 3rd quarter. Vanguard Group Inc. now owns 3,587,998 shares of the company's stock worth $12,379,000 after buying an additional 2,695,204 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Blaize by 4.5% during the fourth quarter. Geode Capital Management LLC now owns 1,536,900 shares of the company's stock valued at $2,997,000 after acquiring an additional 66,178 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of Blaize by 947.4% during 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. UBS Group AG increased its position 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 worth $2,619,000 after acquiring an additional 813,121 shares during the last quarter. Finally, State Street Corp increased its position in shares of Blaize by 2.3% during the fourth quarter. State Street Corp now owns 1,292,591 shares of the company's stock worth $2,521,000 after acquiring an additional 29,222 shares during the last quarter. Hedge funds and other institutional investors own 97.12% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research analysts have commented on BZAI shares. Weiss Ratings restated a "sell (e+)" rating on shares of Blaize in a research note on Wednesday, June 24th. Roth Capital reiterated a "buy" rating and issued a $4.50 target price on shares of Blaize in a research note on Friday, May 15th. Wall Street Zen downgraded Blaize from a "sell" rating to a "strong sell" rating in a report on Saturday, May 16th. B. Riley Financial reduced their price target on Blaize from $8.00 to $5.00 and set a "buy" rating on the stock in a research report on Wednesday, March 25th. Finally, DA Davidson restated a "buy" rating and issued a $3.00 price target on shares of Blaize in a report on Wednesday, April 29th. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $4.62.
View Our Latest Research Report on Blaize
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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