Blaize (NASDAQ:BZAI) Director Anthony Cannestra Sells 50,000 Shares of Stock

Blaize Holdings, Inc. (NASDAQ:BZAI) Director Anthony Cannestra sold 50,000 shares of the firm’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $1.68, for a total value of $84,000.00. Following the completion of the transaction, the director owned 50,000 shares of the company’s stock, valued at approximately $84,000. This represents a 50.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Anthony Cannestra also recently made the following trade(s):

• On Monday, May 11th, Anthony Cannestra sold 50,000 shares of Blaize stock. The stock was sold at an average price of $1.85, for a total value of $92,500.00.
• On Monday, April 6th, Anthony Cannestra sold 50,000 shares of Blaize stock. The stock was sold at an average price of $1.75, for a total value of $87,500.00.

Blaize Stock Down 6.2%

Shares of NASDAQ BZAI opened at $1.51 on Thursday. Blaize Holdings, Inc. has a 52 week low of $1.00 and a 52 week high of $6.76. The business has a 50-day simple moving average of $1.81 and a two-hundred day simple moving average of $1.75. The company has a market cap of $214.16 million, a P/E ratio of -2.01 and a beta of 0.05.

Blaize (NASDAQ:BZAI) last issued its 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 during the quarter. Equities research analysts anticipate that Blaize Holdings, Inc. will post -0.66 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Wall Street Zen downgraded Blaize from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 16th. DA Davidson reiterated a “buy” rating and set a $3.00 price target on shares of Blaize in a research report on Wednesday, April 29th. Zacks Research downgraded Blaize from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 28th. Rosenblatt Securities reiterated a “buy” rating and set a $6.00 price target on shares of Blaize in a research report on Thursday, April 16th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Blaize in a research report on Friday, March 27th. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $4.63.

Hedge Funds Weigh In On Blaize

Large investors have recently modified their holdings of the company. Legal & General Group Plc purchased a new position in shares of Blaize during the 3rd quarter valued at about $26,000. Virtu Financial LLC purchased a new position in shares of Blaize during the 3rd quarter valued at about $42,000. ProShare Advisors LLC purchased a new position in shares of Blaize during the 3rd quarter valued at about $43,000. Resurgent Financial Advisors LLC purchased a new position in shares of Blaize during the 4th quarter valued at about $26,000. Finally, Caitong International Asset Management Co. Ltd purchased a new position in shares of Blaize during the 4th quarter valued at about $29,000. 97.12% of the stock is owned by hedge funds and other institutional investors.

Blaize Company Profile

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.