Red Hat Inc. (RHT) Dips 3.79% for March 21

Equities Staff  |

Among the S&P 500’s biggest fallers on Tuesday March 21 was Red Hat Inc. (RHT). The stock experienced a 3.79% decline to $81.31 with 2.67 million shares changing hands.

Red Hat Inc. started at an opening price of 83.94 and hit a high of $84.72 and a low of $81.23. Ultimately, the stock took a hit and finished the day at $3.2 per share. Red Hat Inc. trades an average of 1.81 million shares a day out of a total 178.29 million shares outstanding. The current moving averages are a 50-day SMA of $79.07 and a 200-day SMA of $76.62. Red Hat Inc. hit a high of $85.01 and a low of $68.54 over the last year.

Red Hat Inc is a provider of open source software solutions, using a community-powered approach to develop and offer reliable and high-performing operating system, middleware, virtualization, storage and cloud technologies.

With its headquarters located in Raleigh, NC, Red Hat Inc. employs 8,800 people. After today’s trading, the company’s market cap has fallen to $14.5 billionAs for its value, has a P/E ratio of <64.5, a P/S of 8.45, a P/B of 11.4, and a P/FCF of 39.9.

To dig deeper into the fundamentals of Red Hat Inc. and perform your own analysis, visit our Stock Valuation Analysis tool for RHT.

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For all the attention paid to the Dow Jones Industrial Average (DJIA), it’s the S&P 500 that’s relied on by insiders and institutional investors. It represents the industry standard for American large-cap indices.

The Dow is made up of just 30 stocks to the S&P 500’s 500, and it uses an unreliable and outdated price-weighting system where the S&P 500 relies on market cap in weighting its returns. This is why its long-term returns is a much more reliable gauge for the performance of large- and mega-cap stocks over time.

To get more information on Red Hat Inc. and to follow the company’s latest updates, you can visit the company’s profile page here: RHT’s Profile. For more news on the financial markets and emerging growth companies, be sure to visit Equities.com’s Newsdesk. Also, don’t forget to sign-up for our daily email newsletter to ensure you don’t miss out on any of our best stories.

All data provided by QuoteMedia and was accurate as of 4:30PM ET.

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