DA Davidson Reaffirms Buy Rating for Blaize (NASDAQ:BZAI)

Key Points

• DA Davidson reiterated a "Buy" rating on Blaize with a $3.00 price objective — implying ~58% upside — while analyst coverage is mixed (1 Strong Buy, 4 Buy, 1 Sell) and the MarketBeat consensus rating is "Moderate Buy" with a $5.63 target.
• Shares trade around $1.90 (market cap ~$232.6M) and insiders have been net sellers recently — 223,460 shares sold in the last three months (including large sales by the CFO and a director), leaving insiders with 17.4% ownership.

Blaize (NASDAQ:BZAI - Get Free Report)'s stock had its "buy" rating reiterated by DA Davidson in a research report issued on Wednesday,Benzinga reports. They presently have a $3.00 price objective on the stock. DA Davidson's price objective suggests a potential upside of 58.31% from the company's current price.

Other research analysts also recently issued reports about the stock. Zacks Research raised shares of Blaize from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 30th. B. Riley Financial dropped their target price on shares of Blaize from $8.00 to $5.00 and set a "buy" rating on the stock in a research report on Wednesday, March 25th. Weiss Ratings reissued a "sell (e+)" rating on shares of Blaize in a research report on Friday, March 27th. Rosenblatt Securities reissued a "buy" rating and issued a $6.00 target price on shares of Blaize in a research report on Thursday, April 16th. Finally, Wall Street Zen downgraded shares of Blaize from a "hold" rating to a "sell" rating in a research report on Saturday. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $5.63.

Blaize Stock Down 0.3%

Shares of Blaize stock traded down $0.01 during trading on Wednesday, hitting $1.90. The stock had a trading volume of 3,090,424 shares, compared to its average volume of 6,185,857. The stock has a 50 day simple moving average of $1.53 and a 200 day simple moving average of $2.19. The company has a market capitalization of $232.61 million and a PE ratio of -0.87. Blaize has a 1 year low of $1.00 and a 1 year high of $6.76.

Insider Activity at Blaize

In other Blaize news, CFO Harminder Sehmi sold 123,460 shares of the business's stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of $2.28, for a total value of $281,488.80. Following the completion of the sale, the chief financial officer directly owned 381,600 shares of the company's stock, valued at $870,048. The trade was a 24.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Anthony Cannestra sold 50,000 shares of the business's stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $1.75, for a total transaction of $87,500.00. Following the completion of the sale, the director directly owned 50,000 shares of the company's stock, valued at $87,500. This represents a 50.00% 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. Over the last three months, insiders have sold 223,460 shares of company stock valued at $495,989. Corporate insiders own 17.40% of the company's stock.

Institutional Trading of Blaize

Large investors have recently modified their holdings of the company. Rhumbline Advisers bought a new stake in shares of Blaize during the 3rd quarter worth $218,000. XTX Topco Ltd bought a new stake in shares of Blaize during the 2nd quarter worth $189,000. Two Sigma Investments LP bought a new stake in shares of Blaize during the 3rd quarter worth $159,000. Virtu Financial LLC boosted its holdings in shares of Blaize by 179.1% during the 4th quarter. Virtu Financial LLC now owns 33,641 shares of the company's stock worth $66,000 after buying an additional 21,589 shares during the period. Finally, Intech Investment Management LLC acquired a new position in Blaize during the 4th quarter valued at $64,000. 97.12% of the stock is owned by institutional investors.

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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