Reading International (NASDAQ:RDIB) Shares Break Below 200-Day Moving Average – Here’s Why

Reading International, Inc. (NASDAQ:RDIB)’s share price passed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $10.95 and traded as low as $10.40. Reading International shares last traded at $10.40, with a volume of 1,801 shares traded.

Analyst Upgrades and Downgrades

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

Reading International Trading Down 7.3%

The stock’s fifty day moving average is $13.83 and its 200 day moving average is $10.95.

Reading International Company Profile

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.