Insider Selling: Blaize (NASDAQ:BZAI) Director Sells $84,000.00 in Stock

Blaize Holdings, Inc. (NASDAQ:BZAI) Director Anthony Cannestra sold 50,000 shares of the business’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $1.68, for a total transaction of $84,000.00. Following the transaction, the director owned 50,000 shares in the company, valued at $84,000. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal 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.

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 transaction 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 transaction of $87,500.00.

Blaize Price Performance

Blaize stock opened at $1.47 on Friday. The firm has a market capitalization of $209.18 million, a PE ratio of -1.96 and a beta of 0.05. The company’s 50-day moving average is $1.80 and its 200-day moving average is $1.75. Blaize Holdings, Inc. has a fifty-two week low of $1.00 and a fifty-two week high of $6.76.

Blaize (NASDAQ:BZAI) last announced its quarterly earnings results on Thursday, May 14th. The company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.06). The company had revenue of $2.74 million during the quarter. Blaize had a negative net margin of 202.65% and a negative return on equity of 551.04%. As a group, analysts expect that Blaize Holdings, Inc. will post -0.66 EPS for the current year.

Analyst Ratings Changes

BZAI has been the topic of several research analyst reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Blaize in a report on Friday, March 27th. Rosenblatt Securities reissued a “buy” rating and issued a $6.00 price target on shares of Blaize in a report on Thursday, April 16th. B. Riley Financial lowered their price target on shares of Blaize from $8.00 to $5.00 and set a “buy” rating on the stock in a report on Wednesday, March 25th. Roth Mkm restated a “buy” rating and set a $4.50 target price on shares of Blaize in a research report on Friday, May 15th. Finally, DA Davidson restated a “buy” rating and set a $3.00 target price on shares of Blaize in a research report on Wednesday, April 29th. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $4.63.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Legal & General Group Plc acquired a new position in shares of Blaize during the 3rd quarter worth approximately $26,000. Resurgent Financial Advisors LLC acquired a new position in shares of Blaize during the 4th quarter worth approximately $26,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Blaize during the 4th quarter worth approximately $29,000. Bank of Montreal Can acquired a new stake in shares of Blaize during the 4th quarter worth approximately $30,000. Finally, Abel Hall LLC acquired a new stake in shares of Blaize during the 1st quarter worth approximately $32,000. Institutional investors and hedge funds 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.