Investors Buy Large Volume of Rice Acquisition Call Options (NYSE:RICE)

Rice Acquisition Corp. (NYSE:RICE) saw unusually large options trading on Thursday. Stock traders acquired 4,756 call options on the company. This represents an increase of approximately 1,795% compared to the average daily volume of 251 call options.

Hedge funds have recently made changes to their positions in the business. Royal Bank of Canada purchased a new position in shares of Rice Acquisition during the first quarter valued at approximately $26,000. Morgan Stanley purchased a new stake in Rice Acquisition in the first quarter worth $60,000. Penserra Capital Management LLC purchased a new stake in Rice Acquisition in the second quarter worth $143,000. Waldron Private Wealth LLC purchased a new stake in Rice Acquisition in the first quarter worth $101,000. Finally, Vivaldi Capital Management LLC purchased a new stake in Rice Acquisition in the first quarter worth $109,000. Hedge funds and other institutional investors own 70.27% of the company’s stock.

Separately, Capital One Financial began coverage on Rice Acquisition in a research report on Tuesday, July 13th. They issued an “overweight” rating and a $26.00 price objective for the company.

RICE stock traded up $0.20 during midday trading on Thursday, hitting $18.27. The company had a trading volume of 234,381 shares, compared to its average volume of 985,872. Rice Acquisition has a 52 week low of $9.62 and a 52 week high of $19.22. The stock’s 50 day moving average price is $16.79 and its 200 day moving average price is $15.12.

Rice Acquisition Company Profile

Rice Acquisition Corp. does not have significant operations. It focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The company was incorporated in 2020 and is based in Carnegie, Pennsylvania.

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