Rackspace Hosting Inc (RAX) : Net money flow in Rackspace Hosting Inc (RAX) was negative ($20.19 million) and the inflow of money on uptick was $11.42 million, whereas, the outflow of money on downticks amounted to $31.6 million on Tuesday. The traders used every opportunity of price strength in the stock to sell their positions, hence, the total uptick to downtick ratio was 0.36. The block trades show that the large investors, were aggressive sellers in the stock. The total value of block trades on upticks was only $0.58 million. On the other hand, the total value of block trades done on downticks was $17.99 million. The ratio of uptick to downtick block trades was 0.03. The money flow in block trades was negative ($17.41). Rackspace Hosting Inc (RAX) gained $0.03 cent during the day and reached $31.49, a gain of 0.1% over the previous day.
Also, In a research note released to the investors, JMP Securities downgrades its rating on Rackspace Hosting Inc (NYSE:RAX).The analysts at the brokerage house have a current rating of Market Perform on the shares. Earlier, the shares were rated a Outperform by the brokerage firm. The rating by the firm was issued on August 26, 2016.
Shares of Rackspace Hosting, Inc. rose by 13.53% in the last five trading days and 33.64% for the last 4 weeks. Rackspace Hosting, Inc. is up 24.64% in the last 3-month period. Year-to-Date the stock performance stands at 24.25%.
Rackspace Hosting Inc (NYSE:RAX): The stock was completely flat for the day, closing at $31.46 on Tuesday. The flat closing masks the intraday volatility in the stock. After opening at $31.45, the stock touched an intraday high of $31.54 and a low of $31.45. Neither the bulls nor the bears asserted their supremacy at close, due to which the stock closed completely flat. The stock previously closed at $31.46. The total trading volume on Tuesday was 7,619,107.
In a related news, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the officer (Chief Operating Officer) of Rackspace Hosting, Inc., Roenigk Mark had sold 701 shares worth of $20,504 in a transaction dated August 12, 2016. In this transaction, 701 shares were sold at $29.25 per share.
Rackspace Hosting, Inc. (Rackspace) operates in the managed cloud segment of the business information technology (IT) market. The Company offers a portfolio of integrated IT solutions for common business needs, including for e-commerce, Web content management, Website hosting, data services, office mail and collaboration, and private clouds. It also offers advisory services for technology strategy, security and compliance, application assessment and migration, and DevOps automation. The Company also offers its solutions across a variety of IT form factors, including multi-tenant public cloud, dedicated single-tenant servers, private cloud, and hybrid cloud. It also delivers managed services, and Fanatical Support across its entire product portfolio. The Company sells its services to business customers in more than 120 countries. The Company has operations located across the United States, as well as in London, Amsterdam, Zurich, Hong Kong, Sydney and Mexico City.