Blaize (NASDAQ:BZAI) Stock Rating Reaffirmed as “Buy” by Rosenblatt Securities

Blaize (NASDAQ:BZAI)‘s stock had its “buy” rating reissued by investment analysts at Rosenblatt Securities in a report released on Thursday, Benzinga reports. They presently have a $2.00 price objective on the stock. Rosenblatt Securities’ price target indicates a potential upside of 319.38% from the stock’s previous close.

BZAI has been the topic of several other reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Blaize in a research note on Monday, September 21st. B. Riley Financial cut their target price on shares of Blaize from $4.00 to $2.00 and set a “buy” rating on the stock in a research note on Friday, August 14th. Finally, DA Davidson reaffirmed a “neutral” rating and set a $1.00 target price (down from $3.00) on shares of Blaize in a research note on Friday, August 14th. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Blaize presently has an average rating of “Hold” and a consensus target price of $2.38.

Blaize Stock Up 0.2%

Shares of BZAI opened at $0.48 on Thursday. Blaize has a fifty-two week low of $0.42 and a fifty-two week high of $6.76. The firm’s 50 day moving average price is $0.66 and its 200 day moving average price is $1.25. The company has a market cap of $69.07 million, a P/E ratio of -0.70 and a beta of 0.08.

Blaize (NASDAQ:BZAI) last announced its earnings results on Thursday, August 13th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.01). Blaize had a negative return on equity of 306.51% and a negative net margin of 160.85%.The business had revenue of $11.99 million for the quarter. Research analysts forecast that Blaize will post -0.76 earnings per share for the current year.

Insider Activity at Blaize

In other Blaize news, Director Anthony Cannestra sold 50,000 shares of the stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $1.35, for a total value of $67,500.00. Following the sale, the director directly owned 50,000 shares of the company’s stock, valued at approximately $67,500. This represents a 50.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 17.40% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. BlackRock Inc. acquired a new position in shares of Blaize in the 2nd quarter valued at $10,194,000. Renaissance Technologies LLC boosted its holdings in shares of Blaize by 947.4% in the 1st quarter. Renaissance Technologies LLC now owns 1,404,159 shares of the company’s stock valued at $2,556,000 after buying an additional 1,270,096 shares in the last quarter. Lazard Asset Management LLC acquired a new position in shares of Blaize in the 1st quarter valued at $2,192,000. Themes Management Co LLC acquired a new position in shares of Blaize in the 1st quarter valued at $1,531,000. Finally, EFG International AG acquired a new position in shares of Blaize in the 2nd quarter valued at $594,000. Institutional investors and hedge funds own 97.12% of the company’s stock.

About Blaize

Blaize, Inc is an artificial intelligence computing company that develops hardware and software for running AI applications at the edge. Its technology is designed to process data locally on devices and systems, reducing the need to send information to centralized cloud infrastructure and supporting applications that require low latency, lower power consumption, or enhanced data privacy.

The company’s offerings include purpose-built edge AI processors, embedded computing platforms, and software tools for developing and deploying machine-learning models.