Reading International, Inc. (NASDAQ:RDIB – Get Free Report) was the target of a large decline in short interest in September. As of September 15th, there was short interest totaling 17,713 shares, a decline of 50.9% from the August 31st total of 36,102 shares. Based on an average daily volume of 66,561 shares, the short-interest ratio is presently 0.3 days.
Reading International Stock Down 2.5%
Shares of NASDAQ RDIB traded down $0.41 during midday trading on Tuesday, reaching $15.92. 30,883 shares of the company’s stock were exchanged, compared to its average volume of 92,092. Reading International has a 52-week low of $8.00 and a 52-week high of $24.00. The business’s fifty day moving average price is $12.28 and its two-hundred day moving average price is $10.36.
Analysts Set New Price Targets
Separately, Weiss Ratings upgraded shares of Reading International from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, August 24th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Reading International currently has a consensus rating of “Sell”.
Reading International Company Profile
Reading International, Inc is an entertainment and real estate company that operates cinemas and owns, develops, and manages real estate assets. Its cinema business provides theatrical exhibition services, including the presentation of mainstream, independent, foreign-language, and specialty films.
Through brands such as Reading Cinemas, Angelika Film Center, and Consolidated Theatres, the company operates cinemas in the United States, Australia, and New Zealand. Its venues generally offer stadium or reserved seating, digital projection, premium-format screens, food and beverage services, and other amenities designed to enhance the moviegoing experience.
Reading International also holds commercial real estate interests, including properties associated with its cinema operations and other development or investment projects.
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