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

Reading International, Inc. (NASDAQ:RDIB) saw a large decline in short interest in the month of October. As of October 15th, there was short interest totaling 6,252 shares, a decline of 34.8% from the September 30th total of 9,582 shares. Based on an average daily trading volume, of 9,635 shares, the days-to-cover ratio is currently 0.6 days.

Reading International Stock Up 0.1%

Shares of Reading International stock opened at $10.50 on Wednesday. The business has a fifty day simple moving average of $13.94 and a 200 day simple moving average of $10.93. Reading International has a 12 month low of $8.00 and a 12 month high of $24.00.

Wall Street Analyst Weigh In

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

About Reading International

Reading International, Inc is an entertainment and real estate company that operates cinemas and owns, develops and manages real estate assets. Its cinema business includes multiplex theaters and specialty film venues designed to offer mainstream and independent films, premium viewing experiences, and related concessions and services.

The company operates cinemas under the Reading Cinemas and Angelika Film Center brands. Its cinema operations serve customers in the United States, Australia and New Zealand, with locations offering a combination of conventional movie screens, luxury amenities and curated programming, depending on the market.

Reading International also owns and manages commercial real estate, including properties associated with its theater operations and other development projects.