On April 17, 2023 at 09:44:37 ET an unusually large $189.70K block of Put contracts in Riot Blockchain (RIOT) was sold, with a strike price of $13.00 / share, expiring in 4 day(s) (on April 21, 2023). Fintel tracks all large options trades, and the premium spent on this trade was 2.24 sigmas above the mean, placing it in the 99.31th 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.

What is the Fund Sentiment?

There are 400 funds or institutions reporting positions in Riot Blockchain. This is an increase of 18 owner(s) or 4.71% in the last quarter. Average portfolio weight of all funds dedicated to RIOT is 0.27%, an increase of 9.39%. Total shares owned by institutions increased in the last three months by 7.03% to 69,317K shares. The put/call ratio of RIOT is 0.73, indicating a bullish outlook.

Analyst Price Forecast Suggests 28.40% 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 28.40% from its latest reported closing price of $13.48.

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 are Other Shareholders Doing?

Birch Capital Management holds 1K shares representing 0.00% ownership of the company. No change in the last quarter.

Sargent Bickham Lagudis holds 1K shares representing 0.00% ownership of the company. No change in 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.

Van Eck Associates holds 542K shares representing 0.32% ownership of the company. In it’s prior filing, the firm reported owning 463K shares, representing an increase of 14.51%. The firm decreased its portfolio allocation in RIOT by 50.89% over the last quarter.

Brighthouse Funds Trust II – MetLife Russell 2000 Index Portfolio holds 54K shares representing 0.03% ownership of the company. In it’s prior filing, the firm reported owning 47K shares, representing an increase of 13.04%. The firm decreased its portfolio allocation in RIOT by 46.45% 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.

See all Riot Blockchain regulatory filings.

This article originally appeared on Fintel

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.