Reading International (NASDAQ:RDI) Stock Price Passes Below 200 Day Moving Average – Here’s Why

Shares of Reading International, Inc. (NASDAQ:RDI) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.51 and traded as low as $1.24. Reading International shares last traded at $1.25, with a volume of 153,055 shares traded.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on shares of Reading International in a research report on Saturday. They set a “sell” rating on the stock.

Reading International Trading Down 3.1 %

The business has a 50-day moving average of $1.44 and a two-hundred day moving average of $1.51. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 35.04. The firm has a market capitalization of $28.03 million, a price-to-earnings ratio of -0.66 and a beta of 1.60.

Hedge Funds Weigh In On Reading International

An institutional investor recently raised its position in Reading International stock. Wittenberg Investment Management Inc. lifted its stake in Reading International, Inc. (NASDAQ:RDI) by 1.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,558,791 shares of the company’s stock after buying an additional 21,483 shares during the period. Reading International comprises approximately 0.8% of Wittenberg Investment Management Inc.’s holdings, making the stock its 21st largest holding. Wittenberg Investment Management Inc. owned approximately 6.95% of Reading International worth $2,541,000 as of its most recent SEC filing. 44.70% of the stock is currently owned by institutional investors and hedge funds.

Reading International Company Profile

Reading International, Inc, together with its subsidiaries, focuses on the ownership, development, and operation of entertainment and real property assets in the United States, Australia, and New Zealand. The company operates in two segments, Cinema Exhibition and Real Estate. The Cinema Exhibition segment operates multiplex cinemas.