Reading International (NASDAQ:RDI) Stock Passes Below 200 Day Moving Average – Should You Sell?

Reading International, Inc. (NASDAQ:RDI)’s stock price passed 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.

Analyst Upgrades and Downgrades

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

Reading International Stock Down 3.1 %

The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 35.04. The business’s 50-day simple moving average is $1.45 and its 200-day simple moving average is $1.51. The company has a market capitalization of $28.03 million, a PE ratio of -0.66 and a beta of 1.60.

Institutional Investors Weigh In On Reading International

An institutional investor recently bought a new position in Reading International stock. Logan Stone Capital LLC bought a new stake in Reading International, Inc. (NASDAQ:RDI) in the 2nd quarter, according to its most recent filing with the SEC. The fund bought 26,639 shares of the company’s stock, valued at approximately $38,000. Logan Stone Capital LLC owned 0.12% of Reading International at the end of the most recent reporting period. Hedge funds and other institutional investors own 44.70% of the company’s stock.

About Reading International

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.