Blaize Holdings, Inc. $BZAI Stake Raised by Renaissance Technologies LLC

Key Points

• Renaissance Technologies increased its Blaize Holdings stake by 947.4% in the first quarter, adding 1.27 million shares to own 1.4 million shares, or approximately 1.14% of the company. Institutional investors collectively hold 97.12% of BZAI.
• Blaize reported a quarterly loss of $0.19 per share, missing estimates by $0.06, on revenue of $2.74 million. The stock opened at $1.10, versus a 52-week range of $0.74 to $6.76.
• Analyst sentiment remains mixed but leans positive, with four Buy ratings, one Hold and one Sell, producing a “Moderate Buy” consensus and a $4.62 average price target. Meanwhile, insiders sold 181,218 shares worth $281,043 over the past three months.

Renaissance Technologies LLC grew its holdings in shares of Blaize Holdings, Inc. (NASDAQ:BZAI - Free Report) by 947.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,404,159 shares of the company's stock after purchasing an additional 1,270,096 shares during the period. Renaissance Technologies LLC owned approximately 1.14% of Blaize worth $2,556,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. Legal & General Group Plc bought a new stake in shares of Blaize in the 3rd quarter worth approximately $26,000. Resurgent Financial Advisors LLC bought a new stake in Blaize during the fourth quarter worth approximately $26,000. Caitong International Asset Management Co. Ltd acquired a new position in Blaize in the fourth quarter worth approximately $29,000. Bank of Montreal Can bought a new position in shares of Blaize in the fourth quarter valued at $30,000. Finally, Abel Hall LLC bought a new position in shares of Blaize in the first quarter valued at $32,000. Institutional investors and hedge funds own 97.12% of the company's stock.

Blaize Price Performance

Shares of BZAI opened at $1.10 on Monday. The business's 50-day moving average is $1.29 and its 200-day moving average is $1.46. The company has a market capitalization of $156.53 million, a price-to-earnings ratio of -1.47 and a beta of 0.13. Blaize Holdings, Inc. has a fifty-two week low of $0.74 and a fifty-two week high of $6.76.

Blaize (NASDAQ:BZAI - Get Free Report) last posted its quarterly earnings results on Thursday, May 14th. The company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.06). Blaize had a negative return on equity of 551.04% and a negative net margin of 202.65%.The company had revenue of $2.74 million for the quarter. Equities research analysts expect that Blaize Holdings, Inc. will post -0.66 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Harminder Sehmi sold 40,609 shares of the company's stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $1.37, for a total value 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 represents a 13.52% decrease in their ownership of the stock. The transaction 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 stock in a transaction on Monday, July 6th. The stock was sold at an average price of $1.35, for a total value of $67,500.00. Following the sale, the director owned 50,000 shares of the company's stock, valued at approximately $67,500. 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. Insiders have sold a total of 181,218 shares of company stock valued at $281,043 in the last three months. Company insiders own 17.40% of the company's stock.

Analyst Ratings Changes

BZAI has been the subject of several research reports. DA Davidson reissued a "buy" rating and set a $3.00 price objective on shares of Blaize in a research note on Wednesday, April 29th. Roth Capital reaffirmed a "buy" rating and set a $4.50 target price on shares of Blaize in a research report on Friday, May 15th. Rosenblatt Securities reiterated a "buy" rating and issued a $6.00 price target on shares of Blaize in a research report on Thursday, April 16th. Zacks Research lowered Blaize from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 28th. Finally, Wall Street Zen cut Blaize from a "sell" rating to a "strong sell" rating in a research note on Saturday, May 16th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $4.62.

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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