Blaize (NASDAQ:BZAI) Stock Rating Lowered by Zacks Research

Key Points

• Zacks Research downgraded Blaize from a "strong-buy" to a "hold," while analyst coverage remains mixed with a consensus rating of "Moderate Buy" and an average target price of $5.63.
• Company insiders sold a total of 223,460 shares (about $496k) in the last three months under pre-arranged Rule 10b5-1 plans, and insiders currently own 17.40% of the stock.
• Blaize is trading near recent lows (opened at $1.91) with a market cap of $234.45M, a negative P/E (–0.88), and a 52-week range of $1.00–$6.76.

Blaize (NASDAQ:BZAI - Get Free Report) was downgraded by analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a report released on Tuesday,Zacks.com reports.

BZAI has been the subject of a number of other research reports. Rosenblatt Securities reaffirmed a "buy" rating and set a $6.00 price objective on shares of Blaize in a research report on Thursday, April 16th. Wall Street Zen lowered shares of Blaize from a "hold" rating to a "sell" rating in a report on Saturday, April 25th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Blaize in a report on Friday, March 27th. B. Riley Financial reduced their target price on shares of Blaize from $8.00 to $5.00 and set a "buy" rating on the stock in a report on Wednesday, March 25th. Finally, DA Davidson reiterated a "buy" rating and set a $3.00 target price on shares of Blaize in a report on Wednesday. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $5.63.

Blaize Stock Performance

NASDAQ:BZAI opened at $1.91 on Tuesday. The stock has a market capitalization of $234.45 million and a P/E ratio of -0.88. The company has a 50 day moving average price of $1.54 and a 200 day moving average price of $2.18. Blaize has a fifty-two week low of $1.00 and a fifty-two week high of $6.76.

Insider Activity

In other news, Director Anthony Cannestra sold 50,000 shares of the firm's stock in a transaction on Monday, April 6th. The shares were sold at an average price of $1.75, for a total value of $87,500.00. Following the sale, the director directly owned 50,000 shares in the company, valued at approximately $87,500. This trade represents a 50.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Harminder Sehmi sold 123,460 shares of the firm's stock in a transaction on Monday, April 20th. The shares were sold at an average price of $2.28, for a total transaction of $281,488.80. Following the completion of the sale, the chief financial officer owned 381,600 shares in the company, valued at $870,048. The trade was a 24.44% decrease in their ownership of the stock. 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. In the last three months, insiders have sold 223,460 shares of company stock worth $495,989. 17.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Blaize

Hedge funds and other institutional investors have recently modified their holdings of the company. Legal & General Group Plc acquired a new stake in shares of Blaize in the 3rd quarter valued at $26,000. Virtu Financial LLC acquired a new stake in Blaize during the 3rd quarter worth $42,000. ProShare Advisors LLC acquired a new stake in Blaize during the 3rd quarter worth $43,000. Voya Investment Management LLC acquired a new stake in Blaize during the 3rd quarter worth $44,000. Finally, Resurgent Financial Advisors LLC acquired a new stake in Blaize during the 4th quarter worth $26,000. 97.12% of the stock is currently owned by institutional investors and hedge funds.

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.

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