Unusual Call Option Trade in Riot Platforms Worth $204.06K

On May 3, 2023 at 09:38:30 ET an unusually large $204.06K block of Call contracts in Riot Platforms (RIOT) was sold, with a strike price of $10.00 / share, expiring in 135 day(s) (on September 15, 2023). Fintel tracks all large options trades, and the premium spent on this trade was 2.04 sigmas above the mean, placing it in the 97.98th percentile of all recent large trades made in RIOT options.

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

What is the Fund Sentiment?

There are 387 funds or institutions reporting positions in Riot Platforms. This is an increase of 2 owner(s) or 0.52% in the last quarter. Average portfolio weight of all funds dedicated to RIOT is 0.21%, a decrease of 3.39%. Total shares owned by institutions increased in the last three months by 6.90% to 69,054K shares. The put/call ratio of RIOT is 0.69, indicating a bullish outlook.

Analyst Price Forecast Suggests 4.12% Downside

As of April 24, 2023, the average one-year price target for Riot Platforms is $11.29. The forecasts range from a low of $6.06 to a high of $17.85. The average price target represents a decrease of 4.12% from its latest reported closing price of $11.78.

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

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

What are Other Shareholders Doing?

Vident Investment Advisory holds 218K shares representing 0.13% ownership of the company. In it’s prior filing, the firm reported owning 216K shares, representing an increase of 1.01%. The firm decreased its portfolio allocation in RIOT by 82.20% over the last quarter.

First Trust Advisors holds 15K shares representing 0.01% ownership of the company. In it’s prior filing, the firm reported owning 338K shares, representing a decrease of 2,089.98%. The firm decreased its portfolio allocation in RIOT by 97.97% over the last quarter.

Algert Global holds 20K shares representing 0.01% ownership of the company. No change in the last quarter.

WELLS FARGO MASTER TRUST – Wells Fargo Factor Enhanced Small Cap Portfolio holds 4K shares representing 0.00% ownership of the company. In it’s prior filing, the firm reported owning 7K shares, representing a decrease of 62.48%. The firm decreased its portfolio allocation in RIOT by 13.08% over the last quarter.

VBINX – Vanguard Balanced Index Fund Investor Shares holds 124K shares representing 0.07% ownership of the company. No change in 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 Platforms regulatory filings.

This article originally appeared on Fintel