Renaissance Technologies LLC Has $2.56 Million Stake in Blaize Holdings, Inc. $BZAI

Renaissance Technologies LLC lifted its position in Blaize Holdings, Inc. (NASDAQ:BZAI) by 947.4% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 1,404,159 shares of the company’s stock after buying an additional 1,270,096 shares during the quarter. Renaissance Technologies LLC’s holdings in Blaize were worth $2,556,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in BZAI. Geode Capital Management LLC lifted its stake in Blaize by 0.5% in the second quarter. Geode Capital Management LLC now owns 655,679 shares of the company’s stock valued at $1,955,000 after acquiring an additional 3,031 shares during the last quarter. Legal & General Group Plc acquired a new position in shares of Blaize during the 3rd quarter worth $26,000. Virtu Financial LLC bought a new position in shares of Blaize during the 3rd quarter valued at $42,000. Resurgent Financial Advisors LLC bought a new position in shares of Blaize during the 4th quarter valued at $26,000. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in shares of Blaize in the 4th quarter valued at $29,000. Institutional investors and hedge funds own 97.12% of the company’s stock.

Wall Street Analyst Weigh In

BZAI has been the subject of a number of recent research reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Blaize in a report on Wednesday, June 24th. Zacks Research cut Blaize from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 28th. DA Davidson reiterated a “buy” rating and set a $3.00 price target on shares of Blaize in a research note on Wednesday, April 29th. Rosenblatt Securities reissued a “buy” rating and set a $6.00 price objective on shares of Blaize in a report on Thursday, April 16th. Finally, Roth Capital reissued a “buy” rating and issued a $4.50 price objective on shares of Blaize in a research note on Friday, May 15th. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $4.62.

Insider Activity at Blaize

In related news, CFO Harminder Sehmi sold 40,609 shares of the firm’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $1.37, for a total value of $55,634.33. Following the completion of the transaction, the chief financial officer directly owned 259,773 shares of the company’s stock, valued at $355,889.01. This trade represents a 13.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Anthony Cannestra sold 50,000 shares of Blaize stock in a transaction on Monday, July 6th. The stock was sold at an average price of $1.35, for a total transaction of $67,500.00. Following the sale, the director owned 50,000 shares in the company, valued at $67,500. 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 have sold a total of 181,218 shares of company stock worth $281,043 in the last three months. 17.40% of the stock is owned by insiders.

Blaize Stock Performance

Shares of BZAI opened at $1.10 on Monday. The company has a 50-day simple moving average of $1.29 and a 200-day simple moving average of $1.46. Blaize Holdings, Inc. has a 52 week low of $0.74 and a 52 week high of $6.76. The firm has a market capitalization of $156.53 million, a P/E ratio of -1.47 and a beta of 0.13.

Blaize (NASDAQ:BZAI) last issued its quarterly earnings results on Thursday, May 14th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.06). The firm had revenue of $2.74 million for the quarter. Blaize had a negative net margin of 202.65% and a negative return on equity of 551.04%. As a group, equities analysts forecast that Blaize Holdings, Inc. will post -0.66 earnings per share for the current year.

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.