Large Inflow of Money Detected in Red Hat

Red Hat (RHT) stock had a bullish inflow of $32.64 million worth of trades on uptick and an outflow of $19.35 million in downticks on Thursday. The total uptick to downtick ratio stood at 1.69. The net money flow into the stock was $13.28 million. The money flow data, which is calculated as the dollar value of composite uptick minus the downtick trades indicated bullish. The block trades had a total money flow of $15.29 million. An inflow of $3.68 million block trade was recorded on downticks. $18.97 million of block trade during Uptick was observed, which shows continued buying by the smart money on every weakness. The total uptick to downtick ratio of block trades was 5.16 in favor of the bulls. However, Red Hat (RHT) stock traded down $0.17 , and reached $73.49, a drop of -0.23% over the previous day. On a weekly basis, the stock is 1.1%, over the previous weeks close.


The stock has recorded a 20-day Moving Average of 1.3% and the 50-Day Moving Average is 1.71%. Shares have dropped -9.98% 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 $75.85 and the 200 Day Moving Average price is recorded at $73.07.

Red Hat (NYSE:RHT): The stock opened at $74.38 on Thursday but the bulls could not build on the opening and the stock topped out at $74.45 for the day. The stock traded down to $73.46 during the day, due to lack of any buying support eventually closed down at $73.49 with a loss of -0.23% for the day. The stock had closed at $73.66 on the previous day. The total traded volume was 1,471,321 shares.

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.

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