Blaize’s (BZAI) “Buy” Rating Reiterated at DA Davidson

DA Davidson reaffirmed their buy rating on shares of Blaize (NASDAQ:BZAI) in a report issued on Wednesday morning,Benzinga reports. The brokerage currently has a $3.00 target price on the stock.

BZAI has been the subject of a number of other research reports. B. Riley Financial decreased their target price 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. Wall Street Zen cut shares of Blaize from a “hold” rating to a “sell” rating in a research report on Saturday, April 25th. Zacks Research raised shares of Blaize from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 30th. Weiss Ratings reissued a “sell (e+)” rating on shares of Blaize in a research report on Friday, March 27th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $6.00 target price on shares of Blaize in a research report on Thursday, April 16th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Blaize currently has a consensus rating of “Moderate Buy” and a consensus target price of $5.63.

Blaize Stock Performance

Shares of BZAI opened at $2.03 on Wednesday. The company has a 50 day moving average price of $1.55 and a 200-day moving average price of $2.18. Blaize has a fifty-two week low of $1.00 and a fifty-two week high of $6.76. The stock has a market capitalization of $249.18 million, a PE ratio of -0.94 and a beta of 0.08.

Insider Activity at Blaize

In related news, CFO Harminder Sehmi sold 123,460 shares of the stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of $2.28, for a total transaction of $281,488.80. Following the completion of the sale, the chief financial officer owned 381,600 shares of the company’s stock, valued at $870,048. This represents a 24.44% 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, Director Anthony Cannestra sold 50,000 shares of the firm’s stock in a transaction on Monday, April 6th. The stock was sold at an average price of $1.75, for a total transaction of $87,500.00. Following the completion of the transaction, the director directly owned 50,000 shares of the company’s stock, valued at approximately $87,500. This represents a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 223,460 shares of company stock valued at $495,989 over the last 90 days. Insiders own 17.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Legal & General Group Plc purchased a new position in shares of Blaize in the third quarter worth $26,000. Virtu Financial LLC purchased a new position in shares of Blaize in the third quarter worth $42,000. ProShare Advisors LLC purchased a new position in shares of Blaize in the third quarter worth $43,000. Voya Investment Management LLC purchased a new position in shares of Blaize in the third quarter worth $44,000. Finally, Resurgent Financial Advisors LLC purchased a new position in shares of Blaize in the fourth quarter worth $26,000. Hedge funds and other institutional investors own 97.12% of the company’s stock.

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.