Red Hat (RHT) : During the past 4 weeks, traders have been relatively bearish on Red Hat (RHT), hence the stock is down -2.61% when compared to the S&P 500 during the same period. However, in the past 1 week, the selling of the stock is down by -1.33% relative to the S&P 500. The 4-week change in the price of the stock is -2.74% and the stock has fallen -0.83% in the past 1 week.
The stock has recorded a 20-day Moving Average of 0.55% and the 50-Day Moving Average is 0.16%.The 200 Day SMA reached 0.71%. Red Hat, Inc. has dropped 5.61% during the last 3-month period . Year-to-Date the stock performance stands at -10.94%.
Red Hat (NYSE:RHT): After opening at $73.3, the stock dipped to an intraday low of $73.27 on Friday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $74.06 and the buying power remained strong till the end. The stock closed at $73.75 for the day, a gain of 1.11% for the day session. The total traded volume was 1,095,267. The stocks close on the previous trading day was $72.94.
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.