Blaize (NASDAQ:BZAI) Cut to “Hold” at Rosenblatt Securities

Rosenblatt Securities lowered shares of Blaize (NASDAQ:BZAI) from a buy rating to a hold rating in a research note published on Tuesday, Marketbeat.com reports. Rosenblatt Securities currently has $0.40 price target on the stock.

Several other equities research analysts have also recently issued reports on the stock. Craig Hallum cut shares of Blaize from a “strong-buy” rating to a “hold” rating in a report on Tuesday. B. Riley Financial decreased their target price on shares of Blaize from $4.00 to $2.00 and set a “buy” rating for the company in a research note on Friday, August 14th. Weiss Ratings reissued a “sell (e+)” rating on shares of Blaize in a report on Monday, September 21st. Finally, DA Davidson restated a “neutral” rating and issued a $1.00 price target (down from $3.00) on shares of Blaize in a research note on Friday, August 14th. Two research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $1.98.

Blaize Stock Performance

Shares of NASDAQ:BZAI opened at $0.29 on Tuesday. The firm has a market cap of $41.55 million, a price-to-earnings ratio of -0.42 and a beta of 0.08. The business has a 50-day simple moving average of $0.60 and a two-hundred day simple moving average of $1.22. Blaize has a fifty-two week low of $0.26 and a fifty-two week high of $6.76.

Blaize (NASDAQ:BZAI) last announced its quarterly earnings results on Thursday, August 13th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.01). Blaize had a negative net margin of 160.85% and a negative return on equity of 306.51%. The company had revenue of $11.99 million for the quarter. As a group, research analysts predict that Blaize will post -0.76 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BZAI. BlackRock Inc. bought a new stake in shares of Blaize during the second quarter valued at approximately $10,194,000. Renaissance Technologies LLC boosted its position 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 worth $2,556,000 after acquiring an additional 1,270,096 shares during the last quarter. Lazard Asset Management LLC bought a new position in shares of Blaize during the first quarter worth $2,192,000. Themes Management Co LLC purchased a new position in Blaize during the first quarter valued at $1,531,000. Finally, EFG International AG purchased a new position in Blaize during the second quarter valued at $594,000. 97.12% of the stock is currently owned by institutional investors.

Blaize Company Profile

Blaize, Inc is an artificial intelligence computing company that develops hardware and software for running AI applications at the edge. Its technology is designed to process data locally on devices and systems, reducing the need to send information to centralized cloud infrastructure and supporting applications that require low latency, lower power consumption, or enhanced data privacy.

The company’s offerings include purpose-built edge AI processors, embedded computing platforms, and software tools for developing and deploying machine-learning models.