Blaize's (BZAI) "Buy" Rating Reiterated at Rosenblatt Securities

Key Points

• Rosenblatt Securities reiterated a “Buy” rating on Blaize and maintained a $2.00 price target, implying 319.38% potential upside from the stock’s $0.48 price.
• Analyst sentiment is mixed: three analysts rate Blaize a Buy, two rate it Hold and one rates it Sell, resulting in a consensus “Hold” rating and a $2.38 average price target.
• Blaize reported a quarterly loss of $0.21 per share, slightly worse than estimates, on $11.99 million in revenue; the company has a $69.07 million market capitalization, negative profitability metrics and a 52-week trading range of $0.42 to $6.76.

Blaize (NASDAQ:BZAI - Get Free Report)'s stock had its "buy" rating reiterated by stock analysts at Rosenblatt Securities in a report issued on Thursday, Benzinga reports. They presently have a $2.00 price target on the stock. Rosenblatt Securities' target price would suggest a potential upside of 319.38% from the stock's current price.

BZAI has been the subject of a number of other reports. B. Riley Financial decreased their price objective on Blaize from $4.00 to $2.00 and set a "buy" rating for the company in a research note on Friday, August 14th. DA Davidson reiterated a "neutral" rating and issued a $1.00 target price (down from $3.00) on shares of Blaize in a report on Friday, August 14th. Finally, Weiss Ratings reissued a "sell (e+)" rating on shares of Blaize in a research report on Monday, September 21st. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $2.38.

Blaize Stock Performance

BZAI stock opened at $0.48 on Thursday. The firm has a fifty day moving average price of $0.66 and a 200 day moving average price of $1.25. Blaize has a fifty-two week low of $0.42 and a fifty-two week high of $6.76. The firm has a market cap of $69.07 million, a PE ratio of -0.70 and a beta of 0.08.

Blaize (NASDAQ:BZAI - Get Free Report) last announced its earnings results on Thursday, August 13th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.01). The firm had revenue of $11.99 million during the quarter. Blaize had a negative net margin of 160.85% and a negative return on equity of 306.51%. On average, equities analysts predict that Blaize will post -0.76 EPS for the current year.

Insider Activity

In related news, Director Anthony Cannestra sold 50,000 shares of the stock in a transaction dated Monday, July 6th. The stock was 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 represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 17.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Blaize

Institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. purchased a new stake in Blaize during the second quarter valued at about $10,194,000. Renaissance Technologies LLC lifted its stake in Blaize by 947.4% in the first quarter. Renaissance Technologies LLC now owns 1,404,159 shares of the company's stock valued at $2,556,000 after buying an additional 1,270,096 shares during the last quarter. Lazard Asset Management LLC bought a new stake in Blaize in the 1st quarter valued at about $2,192,000. Themes Management Co LLC acquired a new position in shares of Blaize during the first quarter worth approximately $1,531,000. Finally, EFG International AG acquired a new position in Blaize during the 2nd quarter worth $594,000. Institutional investors and hedge funds own 97.12% of the company's stock.

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.