Blaize (NASDAQ:BZAI) Director Anthony Cannestra Sells 50,000 Shares

Blaize Holdings, Inc. (NASDAQ:BZAI) Director Anthony Cannestra sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $1.35, for a total value of $67,500.00. Following the sale, the director owned 50,000 shares in the company, valued at approximately $67,500. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available 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, June 8th, Anthony Cannestra sold 50,000 shares of Blaize stock. The shares were sold at an average price of $1.68, for a total value 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 value of $92,500.00.

Blaize Stock Down 4.3%

BZAI traded down $0.06 during trading on Wednesday, reaching $1.23. 2,076,340 shares of the company’s stock were exchanged, compared to its average volume of 3,511,048. The business has a 50 day moving average price of $1.59 and a 200 day moving average price of $1.63. Blaize Holdings, Inc. has a fifty-two week low of $1.00 and a fifty-two week high of $6.76.

Blaize (NASDAQ:BZAI) last announced its quarterly earnings data on Thursday, May 14th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.06). The business had revenue of $2.74 million during the quarter. Blaize had a negative net margin of 202.65% and a negative return on equity of 551.04%. On average, analysts anticipate that Blaize Holdings, Inc. will post -0.66 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in Blaize by 301.9% during 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 increased its position in Blaize by 4.5% in the 4th 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 increased its position in Blaize by 947.4% in the 1st 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 raised its stake in shares of Blaize by 153.4% in 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 raised its stake in shares of Blaize by 2.3% in 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. 97.12% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

BZAI has been the subject of a number of recent analyst reports. DA Davidson reiterated a “buy” rating and set a $3.00 target price on shares of Blaize in a research report on Wednesday, April 29th. Zacks Research lowered shares of Blaize from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 28th. 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. B. Riley Financial reduced their target price on Blaize from $8.00 to $5.00 and set a “buy” rating on the stock in a report on Wednesday, March 25th. Finally, Rosenblatt Securities restated a “buy” rating and set a $6.00 price target on shares of Blaize in a research report on Thursday, April 16th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $4.62.

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.