Shares of Red Hat (NYSE:RHT) Sees Large Outflow of Money

Red Hat (NYSE:RHT) : Wednesdays money flow analysis of Red Hat (NYSE:RHT) indicates the selling of stock on the strength of price. The investors sold the stock on every rise as seen in the downtick transactions of $34.61 million. In comparison, the inflow of money on upticks was a meager $25.13 million. The dollar value of composite uptick trades minus the downtick trades was negative $9.48 million. The uptick to downtick ratio of 0.73 in the money flow shows weakness. The uptick block trades were valued at $1.29 million. The downtick transaction value was high at $9.54 million, which denotes distribution on strength. The uptick to downtick ratio of block trades was 0.13. Hence, the net money flow in the stock was negative ($8.26 million). Red Hat (NYSE:RHT) gained $1.45 at $72.93, a change of 2.03% over the previous days close.


In an insider trading activity, Whitehurst James M, director officer (CEO & President) of Red Hat Inc, unloaded 43,425 shares at an average price of $75 on May 24, 2016. The total amount of the transaction was worth $3,256,875, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing. Currently the company Insiders own 0.76% of Red Hat shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by 3.21% . Institutional Investors own 95.86% of Red Hat shares. During last six month period, the net percent change held by insiders has seen a change of 3.21%.

The company shares have dropped -7.79% 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 $75.84 and the 200 Day Moving Average price is recorded at $73.58. Red Hat (NYSE:RHT): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $71.71 and $71.59 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $73.16. The buying momentum continued till the end and the stock did not give up its gains. It closed at $72.93, notching a gain of 2.03% for the day. The total traded volume was 2,071,792 . The stock had closed at $71.48 on the previous day.

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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