Blaize (NASDAQ:BZAI) Upgraded to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Blaize (NASDAQ:BZAI) from a hold rating to a strong-buy rating in a research note issued to investors on Monday morning,Zacks.com reports.

Several other research firms have also commented on BZAI. B. Riley Financial cut their price target on Blaize from $8.00 to $5.00 and set a “buy” rating on the stock in a research report on Wednesday, March 25th. Rosenblatt Securities restated a “buy” rating and set a $6.00 target price on shares of Blaize in a research report on Wednesday, March 25th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Blaize in a report on Friday. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $6.00.

Blaize Stock Performance

Blaize stock opened at $1.82 on Monday. The company has a market capitalization of $202.00 million, a P/E ratio of -0.84 and a beta of 0.35. Blaize has a fifty-two week low of $1.00 and a fifty-two week high of $6.76. The stock has a 50-day simple moving average of $1.31 and a 200-day simple moving average of $2.47.

Hedge Funds Weigh In On Blaize

Several institutional investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. acquired a new position in Blaize in the 1st quarter valued at about $348,000. Geode Capital Management LLC lifted its position in Blaize by 0.5% during the 2nd quarter. Geode Capital Management LLC now owns 655,679 shares of the company’s stock worth $1,955,000 after acquiring an additional 3,031 shares during the period. XTX Topco Ltd purchased a new position in shares of Blaize in the 2nd quarter valued at approximately $189,000. AQR Arbitrage LLC purchased a new position in shares of Blaize in the 2nd quarter valued at approximately $298,000. Finally, Voya Investment Management LLC acquired a new position in shares of Blaize in the third quarter valued at approximately $44,000. Institutional investors and hedge funds own 97.12% of the company’s stock.

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.