Red Hat Inc (NYSE:RHT) near 52-week high with lower short interest levels

Red Hat Inc (NYSE:RHT) (TREND ANALYSIS) shares were traded near the 52-week high of $71.77. The stock closed last trading session at $67.62, with a volume of 1,482,199 shares against an average volume for the last 30 days of 2,126,165.

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Red Hat Inc (NYSE:RHT) is currently trading 5.78% below its 52-week-high, 42.51% above its 52-week-low and in the range of $57.87-$71.77 over the past month. The 1-year range for the stock is $47.45-$71.77. Red Hat Inc (RHT) has a price to book ratio of 10.05 versus S&P 500 average of 2.75. The company’s share price has underperformed the S&P 500 year to date by -0.72% The company is currently valued at $12.4 billion and closed the last trading session at $67.62. The stock has 50-day moving average of $63.31 and a 200-day moving average of $56.95.

Red Hat Inc (RHT) current short interest stands at 7,742,245 shares. It has decreased by 8% from the same period of last month. Around 4.3% of the company’s shares, which are float, are short sold. With a 30-days average daily volume of 2,126,165 shares, the number of days required to cover the short positions stand at 2.9 days.

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RHT is expected to report earnings per share of $1.58 for the current fiscal year, as per consensus of analysts. Red Hat Inc (NYSE:RHT) reported last earnings figures on September 18th. The company announced actual earnings per share of $0.25 against the consensus Street estimate of $0.38. This represents a year-on-year increase of earning per share of $0.04 from corresponding quarter of last year. Red Hat Inc posted revenue of $396.54 million versus estimate of $383.11 million.

There are currently thirty-five analysts that we track that cover RHT. Of those thirty-five, twenty-five have a buy rating, ten have a hold rating, and . On a consensus basis this yields to a score of 4.37 and a Buy. The consensus target price stands at $73.76 which represents an upside of 9.08% from the last closing price of $67.62.

The most recent analyst activity consisted of Evercore ISI maintaining their hold stance with a target price of $70, which represents an upside of 3.52% from the last closing price. On the date of report, the stock closed at $68.74.

Another research firm weighing in recently was BMO Capital Markets reiterating their outperform stance with a target price of $77, which corresponds to an upside of 13.87% from the last closing price. On the date of report, the stock closed at $68.8.

A third research firm weighing in recently was Needham & Co reiterating their buy stance with a target price of $75, which translates into an upside of 10.91% from the last closing price. On the day of report, the stock closed at $69.48.

Company Profile

Red Hat, Inc. develops and provides open source software and services, including the Red Hat Linux operating system. The Company’s Web site offers information and news about open source software and provides an online community of open source software users and developers.

Red Hat Inc (NYSE:RHT) near 52-week high with lower short interest levels was last modified: January 13th, 2015 by Seth Talluto

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