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

by · The Cerbat Gem

Blaize Holdings, Inc. (NASDAQ:BZAI – Get Free Report) Director Anthony Cannestra sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $1.85, for a total value of $92,500.00. Following the completion of the sale, the director owned 50,000 shares of the company’s stock, valued at $92,500. 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.

Anthony Cannestra also recently made the following trade(s):

  • On Monday, April 6th, Anthony Cannestra sold 50,000 shares of Blaize stock. The stock was sold at an average price of $1.75, for a total value of $87,500.00.

Blaize Price Performance

Shares of Blaize stock traded down $0.17 during midday trading on Tuesday, hitting $1.63. 10,695,851 shares of the company were exchanged, compared to its average volume of 14,909,930. Blaize Holdings, Inc. has a 52 week low of $1.00 and a 52 week high of $6.76. The firm has a 50 day simple moving average of $1.63 and a 200-day simple moving average of $2.03.

Analysts Set New Price Targets

BZAI has been the subject of a number of research analyst reports. Zacks Research cut Blaize from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 28th. Wall Street Zen cut Blaize from a “hold” rating to a “sell” rating in a research report on Saturday, April 25th. DA Davidson restated a “buy” rating and set a $3.00 price objective on shares of Blaize in a research note on Wednesday, April 29th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Blaize in a research note on Friday, March 27th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $6.00 price target on shares of Blaize in a research note on Thursday, April 16th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Blaize presently has an average rating of “Moderate Buy” and a consensus price target of $5.63.

Read Our Latest Research Report on Blaize

Institutional Trading of Blaize

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its position in Blaize by 0.5% in the 2nd quarter. Geode Capital Management LLC now owns 655,679 shares of the company’s stock valued at $1,955,000 after buying an additional 3,031 shares in the last quarter. Legal & General Group Plc bought a new stake in Blaize in the 3rd quarter valued at about $26,000. Virtu Financial LLC bought a new stake in Blaize during the 3rd quarter worth approximately $42,000. ProShare Advisors LLC bought a new stake in Blaize during the 3rd quarter worth approximately $43,000. Finally, Resurgent Financial Advisors LLC purchased a new position in Blaize in the fourth quarter valued at approximately $26,000. 97.12% of the stock is owned by institutional investors.

Blaize Company Profile

(Get Free Report)

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.

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