Red Hat Inc. (RHT) Moves Lower on Volume Spike for May 31

Equities Staff  |

Red Hat Inc. (RHT) traded on unusually high volume on May. 31, as the stock lost 1.19% to close at $162.42. On the day, Red Hat Inc. saw 2.8 million shares trade hands on 22,670 trades. Considering that the stock averages only a daily volume of 1.62 million shares a day over the last month, this represents a pretty significant bump in volume over the norm.

Generally speaking, when a stock experiences a sudden spike in trading volume, it may be seen as a bullish signal for investors. An increase in volume means more market awareness for the company, potentially setting up a more meaningful move in stock price. The added volume also provides a level of support and stability for price advances.

The stock has traded between $173.58 and $86.26 over the last 52-weeks, its 50-day SMA is now $159.58, and its 200-day SMA $132.59. Red Hat Inc. has a P/B ratio of 19.64. It also has a P/E ratio of 118.3.

Red Hat Inc is a software company operating business across the world. It is primarily engaged in providing services to its version of the open-source Linux software operating systems, middleware, storage, virtualization, and management tools.

Headquartered in Raleigh, NC, Red Hat Inc. has 11,870 employees and is currently under the leadership of CEO James M. Whitehurst.

For a complete fundamental analysis analysis of Red Hat Inc., check out Equities.com’s Stock Valuation Analysis report for RHT.

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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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