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 company’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $1.35, for a total transaction of $67,500.00. Following the completion of the transaction, the director owned 50,000 shares in the company, valued at approximately $67,500. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, June 8th, Anthony Cannestra sold 50,000 shares of Blaize stock. The stock was sold at an average price of $1.68, for a total transaction of $84,000.00.
• 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.

Blaize Price Performance

NASDAQ:BZAI opened at $1.23 on Thursday. The firm has a market cap of $175.03 million, a PE ratio of -1.64 and a beta of 0.08. The firm has a 50 day simple moving average of $1.59 and a 200-day simple moving average of $1.63. Blaize Holdings, Inc. has a 1-year low of $1.00 and a 1-year high of $6.76.

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

Analysts Set New Price Targets

BZAI has been the subject of a number of recent analyst reports. Wall Street Zen downgraded Blaize from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 16th. Roth Capital reissued a “buy” rating and issued a $4.50 price target on shares of Blaize in a research note on Friday, May 15th. Weiss Ratings restated a “sell (e+)” rating on shares of Blaize in a report on Wednesday, June 24th. Zacks Research downgraded shares of Blaize from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 28th. Finally, DA Davidson reiterated a “buy” rating and set a $3.00 price objective on shares of Blaize in a report on Wednesday, April 29th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $4.62.

Institutional Trading of Blaize

A number of institutional investors and hedge funds have recently made changes to their positions in the company. UBS Group AG boosted its holdings in Blaize by 153.4% in the fourth quarter. UBS Group AG now owns 1,343,035 shares of the company’s stock valued at $2,619,000 after acquiring an additional 813,121 shares during the last quarter. Cetera Investment Advisers purchased a new stake in Blaize during the fourth quarter valued at about $38,000. Resurgent Financial Advisors LLC acquired a new stake in Blaize during the fourth quarter worth about $26,000. Renaissance Technologies LLC increased its stake in Blaize by 947.4% during the first quarter. Renaissance Technologies LLC now owns 1,404,159 shares of the company’s stock worth $2,556,000 after acquiring an additional 1,270,096 shares during the last quarter. Finally, Lazard Asset Management LLC purchased a new position in shares of Blaize in the 1st quarter worth about $2,192,000. 97.12% of the stock is currently owned by institutional investors and hedge funds.

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.