Blaize Holdings, Inc. (NASDAQ:BZAI) Sees Large Drop in Short Interest

Blaize Holdings, Inc. (NASDAQ:BZAI) was the target of a significant decrease in short interest during the month of January. As of January 15th, there was short interest totaling 4,096,046 shares, a decrease of 69.1% from the December 31st total of 13,258,724 shares. Approximately 4.5% of the company’s shares are short sold. Based on an average trading volume of 1,263,573 shares, the days-to-cover ratio is presently 3.2 days. Based on an average trading volume of 1,263,573 shares, the days-to-cover ratio is presently 3.2 days. Approximately 4.5% of the company’s shares are short sold.

Hedge Funds Weigh In On Blaize

Institutional investors have recently modified their holdings of the company. Vontobel Holding Ltd. bought a new stake in Blaize during the 2nd quarter valued at $60,000. AlphaCore Capital LLC increased its position in shares of Blaize by 597.0% during the second quarter. AlphaCore Capital LLC now owns 69,700 shares of the company’s stock worth $208,000 after acquiring an additional 59,700 shares in the last quarter. D.A. Davidson & CO. bought a new stake in shares of Blaize during the second quarter worth about $54,000. BNP Paribas Financial Markets acquired a new stake in shares of Blaize in the 3rd quarter worth about $56,000. Finally, JPMorgan Chase & Co. lifted its position in Blaize by 1,951.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 29,498 shares of the company’s stock valued at $102,000 after acquiring an additional 28,060 shares in the last quarter. 97.12% of the stock is owned by institutional investors and hedge funds.

Blaize Price Performance

Shares of Blaize stock opened at $1.55 on Friday. The business has a 50-day simple moving average of $2.15 and a 200 day simple moving average of $3.21. Blaize has a one year low of $1.43 and a one year high of $6.76. The firm has a market capitalization of $172.03 million, a price-to-earnings ratio of -2.18 and a beta of 0.34.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on BZAI. Roth Mkm started coverage on Blaize in a research note on Tuesday, October 7th. They issued a “buy” rating and a $8.50 price objective on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Blaize in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $7.60.

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.