Red Hat (RHT) Shares are Up 0.31%

Red Hat (RHT) : Traders are bullish on Red Hat (RHT) as it has outperformed the S&P 500 by a wide margin of 0.65% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 0.34%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 0.31% in the last 1 week, and is up 1.03% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.

Red Hat, Inc. is up 1.45% in the last 3-month period. Year-to-Date the stock performance stands at -10.36%. The stock has recorded a 20-day Moving Average of 0.08% and the 50-Day Moving Average is 0.27%.


Red Hat (NYSE:RHT): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $73.51 and $73.20 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $74.37. The buying momentum continued till the end and the stock did not give up its gains. It closed at $74.23, notching a gain of 0.71% for the day. The total traded volume was 769,228 . The stock had closed at $73.71 on the previous day.

Also, Equity Analysts at the Morgan Stanley downgrades the rating on Red Hat (NYSE:RHT). The brokerage firm has issued a Equal Weight rating on the shares. The shares were previously rated Overweight. The rating by the firm was issued on July 7, 2016.

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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