Blaize (NASDAQ:BZAI) Downgraded by Wall Street Zen to Sell
by Scott Moore · The Cerbat GemWall Street Zen cut shares of Blaize (NASDAQ:BZAI – Free Report) from a hold rating to a sell rating in a report published on Saturday morning.
Several other research firms also recently issued reports on BZAI. Weiss Ratings restated a “sell (e+)” rating on shares of Blaize in a report on Friday, March 27th. B. Riley Financial cut their price objective 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. Rosenblatt Securities restated a “buy” rating and set a $6.00 price objective on shares of Blaize in a report on Thursday, April 16th. Finally, Zacks Research upgraded shares of Blaize from a “hold” rating to a “strong-buy” rating in a report on Monday, March 30th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Blaize currently has a consensus rating of “Moderate Buy” and an average target price of $6.50.
Check Out Our Latest Stock Analysis on BZAI
Blaize Stock Performance
BZAI stock opened at $2.01 on Friday. The firm has a market cap of $246.72 million and a price-to-earnings ratio of -0.93. The firm has a 50-day simple moving average of $1.50 and a two-hundred day simple moving average of $2.25. Blaize has a one year low of $1.00 and a one year high of $6.76.
Insider Activity
In other news, CFO Harminder Sehmi sold 123,460 shares of the company’s stock in a transaction dated Monday, April 20th. The shares were sold at an average price of $2.28, for a total transaction of $281,488.80. Following the transaction, the chief financial officer owned 381,600 shares in the company, valued at $870,048. This represents a 24.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Dinakar Munagala sold 50,000 shares of the company’s stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $2.54, for a total transaction of $127,000.00. Following the transaction, the chief executive officer owned 551,422 shares in the company, valued at approximately $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. Insiders have sold a total of 223,460 shares of company stock worth $495,989 over the last 90 days. 17.40% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Blaize
Several hedge funds and other institutional investors have recently bought and sold shares of BZAI. Vanguard Group Inc. increased its holdings in Blaize by 301.9% in the 3rd quarter. Vanguard Group Inc. now owns 3,587,998 shares of the company’s stock worth $12,379,000 after buying an additional 2,695,204 shares during the period. Millennium Management LLC acquired a new position in Blaize in the 4th quarter worth approximately $1,887,000. UBS Group AG increased its holdings in Blaize by 153.4% in the 4th quarter. UBS Group AG now owns 1,343,035 shares of the company’s stock worth $2,619,000 after buying an additional 813,121 shares during the period. Cantor Fitzgerald L. P. acquired a new position in Blaize in the 4th quarter worth approximately $1,500,000. Finally, Polar Asset Management Partners Inc. acquired a new position in Blaize in the 4th quarter worth approximately $759,000. 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.