Red Hat June 15th Short Interest Update

Red Hat (NYSE:RHT) encountered a drop of 1.1% or -55,091 shares in the short positions. The number dropped from 5,244,940 on May 31,2016 to 5,189,849 on June 15,2016. The final interest is 2.9% of the floated stock. The days to cover figure of 5 can be arrived using the average daily exchange of 1,088,880 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.

Red Hat (NYSE:RHT): The stock opened at $75.44 on Friday but the bulls could not build on the opening and the stock topped out at $76.88 for the day. The stock traded down to $73.55 during the day, due to lack of any buying support eventually closed down at $73.62 with a loss of -6.08% for the day. The stock had closed at $78.39 on the previous day. The total traded volume was 2,961,766 shares.

The company shares have dropped -2.43% from its 1 Year high price. On Dec 30, 2015, the shares registered one year high at $84.44 and the one year low was seen on Feb 8, 2016. The 50-Day Moving Average price is $75.89 and the 200 Day Moving Average price is recorded at $73.79.

Red Hat (NYSE:RHT) has tumbled 4.76% during the past week and has dropped 3.79% in the last 4 week period. The stocks are negative as compared to the S&P 500 for the past week with a loss of 3.18%. Red Hat (NYSE:RHT) has underperformed the index by 0.88% in the last 4 weeks. Investors should watch out for further signals and trade with caution.

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.

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