Blaize (NASDAQ:BZAI) Downgraded by Zacks Research to Hold

Zacks Research cut shares of Blaize (NASDAQ:BZAI) from a strong-buy rating to a hold rating in a research report released on Tuesday,Zacks.com reports.

Several other research firms have also commented on BZAI. Wall Street Zen lowered shares of Blaize from a “hold” rating to a “sell” rating in a research report on Saturday, April 25th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Blaize in a research report on Friday, March 27th. B. Riley Financial lowered their price objective on shares of Blaize from $8.00 to $5.00 and set a “buy” rating for the company in a research report on Wednesday, March 25th. DA Davidson reiterated a “buy” rating and set a $3.00 price objective on shares of Blaize in a research report on Wednesday. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $6.00 price objective on shares of Blaize in a research report on Thursday, April 16th. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Blaize has a consensus rating of “Moderate Buy” and a consensus price target of $5.63.

Blaize Stock Up 0.5%

BZAI stock opened at $1.91 on Tuesday. Blaize has a 52 week low of $1.00 and a 52 week high of $6.76. The company has a fifty day simple moving average of $1.54 and a two-hundred day simple moving average of $2.18. The firm has a market capitalization of $234.45 million and a P/E ratio of -0.88.

Insider Transactions at Blaize

In other news, Director Anthony Cannestra sold 50,000 shares of the firm’s stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $1.75, for a total value of $87,500.00. Following the completion of the sale, the director owned 50,000 shares in the company, valued at approximately $87,500. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Dinakar Munagala sold 50,000 shares of the firm’s stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $2.54, for a total transaction of $127,000.00. Following the completion of the sale, the chief executive officer owned 551,422 shares of the company’s stock, valued at $1,400,611.88. This trade represents a 8.31% decrease in their position. 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 quarter, insiders sold 223,460 shares of company stock worth $495,989. 17.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Blaize

Institutional investors have recently made changes to their positions in the company. Legal & General Group Plc bought a new stake in shares of Blaize in the 3rd quarter worth about $26,000. Virtu Financial LLC bought a new stake in shares of Blaize in the 3rd quarter worth about $42,000. ProShare Advisors LLC bought a new stake in shares of Blaize in the 3rd quarter worth about $43,000. Voya Investment Management LLC bought a new stake in shares of Blaize in the 3rd quarter worth about $44,000. Finally, Resurgent Financial Advisors LLC bought a new stake in Blaize during the 4th quarter valued at about $26,000. Institutional investors 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.