Anthony Cannestra Sells 50,000 Shares of Blaize (NASDAQ:BZAI) Stock

Blaize Holdings, Inc. (NASDAQ:BZAI) Director Anthony Cannestra sold 50,000 shares of Blaize stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $1.68, for a total value of $84,000.00. Following the completion of the sale, the director directly owned 50,000 shares in the company, valued at approximately $84,000. This represents a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available 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, May 11th, Anthony Cannestra sold 50,000 shares of Blaize stock. The shares were sold at an average price of $1.85, for a total value of $92,500.00.
• On Monday, April 6th, Anthony Cannestra sold 50,000 shares of Blaize stock. The shares were sold at an average price of $1.75, for a total value of $87,500.00.

Blaize Stock Performance

NASDAQ:BZAI opened at $1.54 on Friday. The stock’s 50-day simple moving average is $1.81 and its 200 day simple moving average is $1.75. The company has a market cap of $219.14 million, a P/E ratio of -2.05 and a beta of 0.05. Blaize Holdings, Inc. has a 52-week low of $1.00 and a 52-week high of $6.76.

Blaize (NASDAQ:BZAI) last released 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 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, equities analysts predict that Blaize Holdings, Inc. will post -0.66 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Blaize

A number of institutional investors have recently made changes to their positions in BZAI. Goldman Sachs Group Inc. bought a new stake in shares of Blaize during the first quarter worth approximately $348,000. Geode Capital Management LLC boosted its holdings in shares of Blaize by 0.5% during the second quarter. Geode Capital Management LLC now owns 655,679 shares of the company’s stock worth $1,955,000 after acquiring an additional 3,031 shares during the period. XTX Topco Ltd bought a new stake in shares of Blaize during the second quarter worth approximately $189,000. AQR Arbitrage LLC bought a new stake in shares of Blaize during the second quarter worth approximately $298,000. Finally, New York State Common Retirement Fund bought a new stake in shares of Blaize during the third quarter worth approximately $102,000. Institutional investors own 97.12% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on BZAI shares. Rosenblatt Securities reissued a “buy” rating and set a $6.00 price target on shares of Blaize in a research report on Thursday, April 16th. Zacks Research downgraded Blaize from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 28th. Weiss Ratings reissued a “sell (e+)” rating on shares of Blaize in a research report on Friday, March 27th. Wall Street Zen downgraded Blaize from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 16th. Finally, DA Davidson reissued a “buy” rating and set a $3.00 price target on shares of Blaize in a research report on Wednesday, April 29th. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $4.63.

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.