Insider Selling: Blaize (NASDAQ:BZAI) Director Sells 50,000 Shares of Stock

Key Points

• Director Anthony Cannestra sold 50,000 shares of Blaize on April 6 at an average price of $1.75 under a pre-arranged Rule 10b5-1 plan, a transaction of $87,500 that left him with 50,000 shares — a 50.00% decrease in his ownership.
• Blaize shares traded up about 4.9% to $2.03 amid heavy volume; the company has a market cap of $248.57M and a negative P/E, while analysts are mixed but show an average rating of "Moderate Buy" with an average target price of $6.50.

Blaize Holdings, Inc. (NASDAQ:BZAI - Get Free Report) Director Anthony Cannestra sold 50,000 shares of Blaize stock in a transaction 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 sale, the director owned 50,000 shares in the company, valued at $87,500. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Blaize Trading Up 4.9%

NASDAQ:BZAI traded up $0.10 during midday trading on Wednesday, hitting $2.03. 4,102,314 shares of the company were exchanged, compared to its average volume of 4,611,477. The company has a fifty day simple moving average of $1.30 and a 200 day simple moving average of $2.41. Blaize Holdings, Inc. has a fifty-two week low of $1.00 and a fifty-two week high of $6.76. The company has a market capitalization of $248.57 million and a PE ratio of -0.93.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. B. Riley Financial dropped their price objective on shares of Blaize from $8.00 to $5.00 and set a "buy" rating on the stock in a research note on Wednesday, March 25th. Weiss Ratings restated a "sell (e+)" rating on shares of Blaize in a research note on Friday, March 27th. Zacks Research upgraded shares of Blaize from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 30th. Finally, Rosenblatt Securities reaffirmed a "buy" rating and issued a $6.00 target price on shares of Blaize in a report on Wednesday, March 25th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $6.50.

Institutional Trading of Blaize

Institutional investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc purchased a new stake in Blaize during the third quarter worth about $26,000. Virtu Financial LLC purchased a new stake in Blaize during the third quarter worth about $42,000. ProShare Advisors LLC purchased a new stake in Blaize during the third quarter worth about $43,000. Voya Investment Management LLC purchased a new stake in Blaize during the third quarter worth about $44,000. Finally, Resurgent Financial Advisors LLC purchased a new stake in Blaize during the fourth quarter worth about $26,000. Hedge funds and other institutional investors own 97.12% of the company's stock.

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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