Red Hat (NYSE:RHT) : During the past 4 weeks, traders have been relatively bearish on Red Hat (NYSE:RHT), hence the stock is down -7% 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 -0.31% relative to the S&P 500. The stock has risen by 0.97% in the past week indicating that the buyers are active at lower levels, but the stock is down -5.5% in the past 4 weeks.
The company shares have dropped -8.63% 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 $75.86 and the 200 Day Moving Average price is recorded at $73.26.
The stock has recorded a 20-day Moving Average of 3.44% and the 50-Day Moving Average is 2.86%.
Red Hat (NYSE:RHT): stock turned positive on Friday. Though the stock opened at $72.05, the bulls momentum made the stock top out at $72.92 level for the day. The stock recorded a low of $71.91 and closed the trading day at $72.69, in the green by 1.78%. The total traded volume for the day was 1,402,524. The stock had closed at $71.42 in the previous days trading.
In an insider trading activity, The Securities and Exchange Commission has divulged that Whitehurst James M, director officer (CEO & President) of Red Hat Inc, had unloaded 43,425 shares at an average price of $75 in a transaction dated on May 24, 2016. The total value of the transaction was worth $3,256,875.
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.