On April 12, 2023 at 11:18:12 ET an unusually large $104.37K block of Put contracts in Riot Blockchain (RIOT) was bought, with a strike price of $11.00 / share, expiring in 65 days (on June 16, 2023). Fintel tracks all large options trades, and the premium spent on this trade was 1.11 sigmas above the mean, placing it in the 92.23 percentile of all recent large trades made in RIOT options.

This trade was first picked up on Fintel’s real time Unusual Option Trades tool, where unusual option trades are highlighted.

Analyst Price Forecast Suggests 22.04% Downside

As of April 6, 2023, the average one-year price target for Riot Blockchain is $9.65. The forecasts range from a low of $5.05 to a high of $12.60. The average price target represents a decrease of 22.04% from its latest reported closing price of $12.38.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Riot Blockchain is $424MM, an increase of 63.58%. The projected annual non-GAAP EPS is -$0.08.

What is the Fund Sentiment?

There are 398 funds or institutions reporting positions in Riot Blockchain. This is an increase of 9 owner(s) or 2.31% in the last quarter. Average portfolio weight of all funds dedicated to RIOT is 0.26%, an increase of 6.84%. Total shares owned by institutions increased in the last three months by 4.79% to 67,857K shares. The put/call ratio of RIOT is 0.65, indicating a bullish outlook.

What are Large Shareholders Doing?

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 4,579K shares representing 2.74% ownership of the company. No change in the last quarter.

NAESX – Vanguard Small-Cap Index Fund Investor Shares holds 3,879K shares representing 2.32% ownership of the company. In it’s prior filing, the firm reported owning 3,925K shares, representing a decrease of 1.17%. The firm decreased its portfolio allocation in RIOT by 55.75% over the last quarter.

IWM – iShares Russell 2000 ETF holds 3,654K shares representing 2.19% ownership of the company. In it’s prior filing, the firm reported owning 2,964K shares, representing an increase of 18.88%. The firm decreased its portfolio allocation in RIOT by 46.01% over the last quarter.

Geode Capital Management holds 3,491K shares representing 2.09% ownership of the company. In it’s prior filing, the firm reported owning 2,611K shares, representing an increase of 25.21%. The firm decreased its portfolio allocation in RIOT by 40.18% over the last quarter.

BLOK – Amplify Transformational Data Sharing ETF holds 2,584K shares representing 1.55% ownership of the company. In it’s prior filing, the firm reported owning 2,023K shares, representing an increase of 21.73%. The firm increased its portfolio allocation in RIOT by 30.61% over the last quarter.

Riot Blockchain Background Information
(This description is provided by the company.)

Riot Blockchain focuses on cryptocurrency mining of bitcoin. The Company is expanding and upgrading its mining operations by securing the most energy efficient miners currently available. Riot also holds certain non-controlling investments in blockchain technology companies. Riot is headquartered in Castle Rock, Colorado, and the Company’s primary mining facility operates out of upstate New York, under a co-location hosting agreement with Coinmint.

This article originally appeared on Fintel

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