Reading International, Inc. (NASDAQ:RDIB) Sees Significant Drop in Short Interest

Reading International, Inc. (NASDAQ:RDIB) was the recipient of a significant decrease in short interest in the month of September. As of September 30th, there was short interest totaling 9,582 shares, a decrease of 45.9% from the September 15th total of 17,713 shares. Based on an average daily volume of 38,679 shares, the days-to-cover ratio is presently 0.2 days.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered shares of Reading International from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, October 8th. One investment analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, Reading International presently has a consensus rating of “Sell”.

Reading International Stock Performance

NASDAQ:RDIB traded down $0.64 during trading hours on Friday, hitting $11.49. The company had a trading volume of 2,870 shares, compared to its average volume of 85,390. The stock has a 50-day moving average price of $13.62 and a 200 day moving average price of $10.68. Reading International has a 52 week low of $8.00 and a 52 week high of $24.00.

About Reading International

Reading International, Inc is an entertainment and real estate company based in the United States. Through its cinema businesses, the company operates multiplex and boutique movie theaters under the Reading Cinemas and Angelika Film Center brands, offering theatrical film exhibition, food and beverage services, and related entertainment experiences.

Reading International operates cinemas in the United States, Australia, and New Zealand. Its Angelika venues are known for screening independent, foreign-language, and specialty films, while its Reading Cinemas locations generally serve broader local and regional markets.

The company also owns, develops, and manages a portfolio of commercial real estate, including retail, office, and other properties in the United States, Australia, and New Zealand.