Analysts Set Blaize Holdings, Inc. (NASDAQ:BZAI) Target Price at $3.38

Blaize Holdings, Inc. (NASDAQ:BZAI) has been given a consensus recommendation of “Hold” by the six research firms that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $3.3750.

BZAI has been the topic of several research reports. B. Riley Financial lowered their target price on Blaize from $4.00 to $2.00 and set a “buy” rating on the stock in a research note on Friday, August 14th. Roth Capital reiterated a “buy” rating and set a $4.50 price target on shares of Blaize in a research note on Friday, May 15th. DA Davidson reissued a “neutral” rating and issued a $1.00 price objective (down from $3.00) on shares of Blaize in a report on Friday, August 14th. Wall Street Zen downgraded shares of Blaize from a “sell” rating to a “strong sell” rating in a report on Saturday, May 16th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Blaize in a report on Wednesday, June 24th.

Blaize Price Performance

Shares of BZAI stock opened at $0.53 on Monday. The company has a 50 day moving average of $1.00 and a 200-day moving average of $1.36. Blaize has a 12-month low of $0.42 and a 12-month high of $6.76. The firm has a market cap of $76.76 million, a P/E ratio of -0.78 and a beta of 0.13.

Blaize (NASDAQ:BZAI) last posted its quarterly earnings data on Thursday, August 13th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate 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. As a group, equities analysts expect that Blaize will post -0.76 EPS for the current year.

Insider Activity at Blaize

In other news, Director Anthony Cannestra sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, July 6th. The shares were 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 $67,500. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Harminder Sehmi sold 40,609 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $1.37, for a total transaction of $55,634.33. Following the sale, the chief financial officer owned 259,773 shares in the company, valued at $355,889.01. The trade was a 13.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 140,609 shares of company stock worth $207,134. Insiders own 17.40% of the company’s stock.

Hedge Funds Weigh In On Blaize

A number of large investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. purchased a new position in shares of Blaize in the first quarter valued at $348,000. Geode Capital Management LLC lifted its holdings 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 purchasing an additional 3,031 shares in the last quarter. XTX Topco Ltd purchased a new stake in Blaize during the 2nd quarter worth about $189,000. AQR Arbitrage LLC purchased a new stake in Blaize during the 2nd quarter worth about $298,000. Finally, Rhumbline Advisers bought a new position in Blaize in the 3rd quarter worth about $218,000. 97.12% of the stock is owned by 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.