Large Outflow of Money Witnessed in Red Hat

Red Hat (RHT): The stock had negative money flow to the tune of ($1.44 million) on Wednesday, which shows that the traders are selling the stock on the price strength. The inflow of money on upticks was $11.49 million, whereas, the outflow of money on downticks was $12.93 million and the ratio between the two was 0.89. The block trade had a negative net money flow of ($0.88 million). The total block trade value undertaken on upticks was $0.88 million. On the other hand, downticks amounted to $0 million of the traded value, which shows distribution in the stock by traders. Red Hat (RHT) closed with marginal gains of 79 cents to end the day at $79.9, an increase of 1% over the previous days close. The stock recorded 0.97% for the week.


Shares of Red Hat, Inc. rose by 4.57% in the last five trading days and 9.35% for the last 4 weeks. Red Hat, Inc. is up 10.46% in the last 3-month period. Year-to-Date the stock performance stands at -2.72%.

Red Hat (RHT) : The consensus on Red Hat (RHT) based on 17 analyst recommendation on the company stock is 1.29, which is interpreted as a Strong Buy recommendation. Zacks Investment Research has issued a rank of 3 which endorses a Hold on the stock. However, 14 brokers have a differing view as they consider the stock to be a Strong Buy at current levels. 1 analyst believes that the stock is a Buy, which can produce decent returns in the future. 2 experts consider that the stocks earnings and the quoted price is in harmony, hence, they give it a Hold rating.

Red Hat (NYSE:RHT): The stock opened at $79.26 and touched an intraday high of $80.615 on Wednesday. During the day, the stock corrected to an intraday low of $79.135, however, the bulls stepped in and pushed the price higher to close in the green at $80.56 with a gain of 1.83% for the day. The total traded volume for the day was 2,185,665. The stock had closed at $79.11 in the previous trading session.

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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