Red Hat (RHT) : Traders are bullish on Red Hat (RHT) as it has outperformed the S&P 500 by a wide margin of 1.18% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 2.54%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 2.48% in the last 1 week, and is up 4.58% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The stock has recorded a 20-day Moving Average of 3.15% and the 50-Day Moving Average is 0.32%. Red Hat, Inc. is up 2.62% in the last 3-month period. Year-to-Date the stock performance stands at -9.08%.
Red Hat (NYSE:RHT): stock turned positive on Friday. Though the stock opened at $74.38, the bulls momentum made the stock top out at $75.39 level for the day. The stock recorded a low of $74.14 and closed the trading day at $75.29, in the green by 1.16%. The total traded volume for the day was 1,472,067. The stock had closed at $74.43 in the previous days trading.
Red Hat, Inc. is a provider of open source software solutions, using a community-powered approach to develop and offer operating system, virtualization, middleware, storage and cloud technologies. The Company employs an open source development model. The open source development model allows it to use the collective input, resources and knowledge of a global community of contributors who can collaborate to develop, maintain and enhance software because the human-readable source code for that software is publicly available and licenses permit modification. The Company distributes its software offerings under open source licenses that permit access to the softwares human-readable source code. The Company provides its software offerings primarily under annual or multi-year subscriptions as well as on-demand through cloud service providers.