Blaize Holdings, Inc. (NASDAQ:BZAI) Stock Has Average Price Target of $1.98

Shares of Blaize Holdings, Inc. (NASDAQ:BZAI) have received a consensus rating of “Hold” from the seven ratings firms that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, four have given a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $1.98.

Several analysts recently weighed in on the stock. Craig Hallum cut shares of Blaize from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 6th. Weiss Ratings restated a “sell (e+)” rating on shares of Blaize in a research report on Monday, September 21st. DA Davidson cut Blaize from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $3.00 to $1.00 in a research note on Friday, August 14th. Rosenblatt Securities lowered shares of Blaize from a “buy” rating to a “hold” rating and set a $0.40 price objective on the stock. in a report on Tuesday, October 6th. Finally, B. Riley Financial decreased their price target on shares of Blaize from $4.00 to $2.00 and set a “buy” rating on the stock in a research note on Friday, August 14th.

Institutional Investors Weigh In On Blaize

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC boosted its position in Blaize by 947.4% in the 1st quarter. Renaissance Technologies LLC now owns 1,404,159 shares of the company’s stock valued at $2,556,000 after buying an additional 1,270,096 shares during the period. BlackRock Inc. bought a new stake in Blaize in the second quarter worth $10,194,000. Lazard Asset Management LLC bought a new position in Blaize during the first quarter worth about $2,192,000. Themes Management Co LLC acquired a new stake in shares of Blaize during the 1st quarter worth approximately $1,531,000. Finally, Deutsche Bank AG bought a new position in Blaize in the second quarter valued at $102,000. Institutional investors own 97.12% of the company’s stock.

Blaize Stock Performance

Blaize stock opened at $0.20 on Friday. The firm has a market capitalization of $29.66 million, a price-to-earnings ratio of -0.30 and a beta of 0.18. The company has a 50 day moving average price of $0.38 and a 200 day moving average price of $1.13. Blaize has a 52 week low of $0.17 and a 52 week high of $3.54.

Blaize (NASDAQ:BZAI) last announced its quarterly earnings results 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 net margin of 160.85% and a negative return on equity of 306.51%. The firm had revenue of $11.99 million during the quarter. Equities analysts forecast that Blaize will post -0.72 earnings per share for the current fiscal year.

About Blaize

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.