Blaize Holdings, Inc. (NASDAQ:BZAI) Receives Average Rating of "Hold" from Brokerages

Key Points

• Analyst consensus is “Hold”: Of six analysts covering Blaize, three recommend buying, two recommend holding, and one recommends selling. The average 12-month price target is $3.375, though recent targets were cut, including DA Davidson’s reduction to $1 and B. Riley’s to $2.
• Shares have declined sharply: BZAI opened at $0.62, near its $0.42 one-year low and well below its $6.76 high. The company reported a quarterly loss of $0.21 per share, slightly missing estimates, on $11.99 million in revenue.
• Insiders have recently sold shares: CFO Harminder Sehmi and Director Anthony Cannestra sold shares under pre-arranged trading plans, reducing their holdings by 13.52% and 50%, respectively. Institutional investors and hedge funds own 97.12% of the stock.

Shares of Blaize Holdings, Inc. (NASDAQ:BZAI - Get Free Report) have been assigned an average rating of "Hold" from the six research firms that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $3.3750.

A number of brokerages have recently issued reports on BZAI. Weiss Ratings reissued a "sell (e+)" rating on shares of Blaize in a research note on Wednesday, June 24th. DA Davidson reaffirmed 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. Finally, B. Riley Financial decreased their price objective on shares of Blaize from $4.00 to $2.00 and set a "buy" rating for the company in a report on Friday, August 14th.

Blaize Stock Performance

Shares of Blaize stock opened at $0.62 on Friday. The stock has a market cap of $89.10 million, a price-to-earnings ratio of -0.90 and a beta of 0.08. The stock has a 50 day moving average price of $0.76 and a 200-day moving average price of $1.29. Blaize has a one year low of $0.42 and a one year high of $6.76.

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

Insider Transactions at Blaize

In other news, CFO Harminder Sehmi sold 40,609 shares of the firm's stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $1.37, for a total transaction of $55,634.33. Following the transaction, the chief financial officer directly owned 259,773 shares of the company's stock, valued at approximately $355,889.01. This trade represents a 13.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Anthony Cannestra sold 50,000 shares of the firm's stock in a transaction that occurred 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 transaction, the director directly owned 50,000 shares in the company, valued at approximately $67,500. This trade represents a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 17.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of BZAI. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Blaize in the 4th quarter worth $29,000. Abel Hall LLC bought a new stake in shares of Blaize in the first quarter valued at about $32,000. Corient Private Wealth LP bought a new stake in shares of Blaize in the second quarter valued at about $28,000. Leonteq Securities AG purchased a new stake in Blaize in the fourth quarter worth about $39,000. Finally, Kera Capital Partners Inc. purchased a new stake in Blaize in the first quarter worth about $48,000. 97.12% of the stock is currently owned by hedge funds and other 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.

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