Reading International (NASDAQ:RDI) Shares Pass Below 200 Day Moving Average of $1.89

Reading International, Inc. (NASDAQ:RDI)’s stock price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $1.89 and traded as low as $1.61. Reading International shares last traded at $1.64, with a volume of 16,155 shares changing hands.

Wall Street Analyst Weigh In

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

Reading International Price Performance

The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 5.27. The firm has a market cap of $36.67 million, a PE ratio of -1.19 and a beta of 1.59. The firm’s fifty day simple moving average is $1.83 and its two-hundred day simple moving average is $1.89.

Hedge Funds Weigh In On Reading International

A hedge fund recently raised its stake in Reading International stock. Krilogy Financial LLC boosted its position in shares of Reading International, Inc. (NASDAQ:RDI) by 4.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,854,408 shares of the company’s stock after buying an additional 86,013 shares during the period. Krilogy Financial LLC owned approximately 8.36% of Reading International worth $3,542,000 as of its most recent SEC filing. Institutional investors and hedge funds own 44.70% of the company’s stock.

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.