Blaize (NASDAQ:BZAI) Shares Gap Up - Should You Buy?

Blaize Holdings, Inc. (NASDAQ:BZAI - Get Free Report)'s share price gapped up before the market opened on Friday . The stock had previously closed at $3.03, but opened at $5.31. Blaize shares last traded at $5.05, with a volume of 57,259,220 shares traded.

Analyst Ratings Changes

BZAI has been the topic of a number of research analyst reports. Craig Hallum initiated coverage on shares of Blaize in a research note on Tuesday, April 8th. They issued a "buy" rating and a $4.50 target price on the stock. Rosenblatt Securities reiterated a "neutral" rating and issued a $3.00 target price on shares of Blaize in a research note on Tuesday, July 1st.

Blaize Trading Up 58.7%

The company has a fifty day simple moving average of $2.59.

Blaize (NASDAQ:BZAI - Get Free Report) last announced its quarterly earnings results on Wednesday, May 14th. The company reported ($0.29) earnings per share (EPS) for the quarter.

Institutional Trading of Blaize

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Goldman Sachs Group Inc. purchased a new stake in Blaize in the first quarter worth approximately $348,000. Temasek Holdings Private Ltd bought a new position in shares of Blaize during the 1st quarter valued at $12,833,000. Quarry LP purchased a new position in shares of Blaize in the 1st quarter worth $1,364,000. OMERS ADMINISTRATION Corp bought a new stake in shares of Blaize during the 1st quarter valued at about $123,000. Finally, ATW Spac Management LLC purchased a new stake in shares of Blaize during the 1st quarter valued at about $694,000. 97.12% of the stock is currently owned by institutional investors.

About Blaize

Blaize® has created a transformative new compute solution that unites silicon and software to optimize AI from the edge to the core. We're partnering with customers to transform their products so they can deliver better experiences and better lives.