Brokerages Set Blaize Holdings, Inc. (NASDAQ:BZAI) Target Price at $6.50

Blaize Holdings, Inc. (NASDAQ:BZAI) has earned a consensus rating of “Moderate Buy” from the five brokerages that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $6.50.

BZAI has been the topic of a number of research analyst reports. B. Riley Financial decreased their target price on Blaize from $8.00 to $5.00 and set a “buy” rating on the stock in a research report on Wednesday, March 25th. Wall Street Zen raised Blaize from a “sell” rating to a “hold” rating in a research note on Saturday, April 11th. Rosenblatt Securities reaffirmed a “buy” rating and set a $6.00 price objective on shares of Blaize in a report on Thursday, April 16th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Blaize in a research report on Friday, March 27th. Finally, Zacks Research raised shares of Blaize from a “hold” rating to a “strong-buy” rating in a report on Monday, March 30th.

Insiders Place Their Bets

In other Blaize news, CEO Dinakar Munagala sold 50,000 shares of the company’s stock in a transaction on Friday, April 17th. The stock was sold at an average price of $2.54, for a total value of $127,000.00. Following the transaction, the chief executive officer owned 551,422 shares of the company’s stock, valued at $1,400,611.88. This represents a 8.31% decrease in their position. The sale 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, CFO Harminder Sehmi sold 123,460 shares of the company’s stock in a transaction dated Monday, April 20th. The stock was sold at an average price of $2.28, for a total transaction of $281,488.80. Following the completion of 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 223,460 shares of company stock valued at $495,989 over the last 90 days. Insiders own 17.40% of the company’s stock.

Hedge Funds Weigh In On Blaize

Several institutional investors and hedge funds have recently bought and sold shares of BZAI. Geode Capital Management LLC increased its stake in Blaize by 0.5% during the 2nd quarter. Geode Capital Management LLC now owns 655,679 shares of the company’s stock valued at $1,955,000 after purchasing an additional 3,031 shares in the last quarter. Legal & General Group Plc purchased a new stake in shares of Blaize during the third quarter valued at $26,000. Virtu Financial LLC acquired a new position in shares of Blaize in the 3rd quarter valued at $42,000. ProShare Advisors LLC purchased a new position in Blaize in the 3rd quarter worth $43,000. Finally, Voya Investment Management LLC acquired a new stake in Blaize during the 3rd quarter worth about $44,000. 97.12% of the stock is owned by hedge funds and other institutional investors.

Blaize Stock Performance

Shares of BZAI stock opened at $1.92 on Tuesday. Blaize has a 52-week low of $1.00 and a 52-week high of $6.76. The firm has a market capitalization of $235.68 million and a PE ratio of -0.88. The stock has a fifty day simple moving average of $1.48 and a two-hundred day simple moving average of $2.29.

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.