Red Hat Inc. (RHT): Today's Featured Computer Software & Services Laggard
Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model. Red Hat (RHT) pushed the Computer Software & Services industry lower today making it today's featured Computer Software & Services laggard. The industry as a whole closed the day down 1.3%. By the end of trading, Red Hat fell $2.46 (-4.3%) to $55.08 on heavy volume. Throughout the day, five million shares of Red Hat exchanged hands as compared to its average daily volume of 1.9 million shares. The stock ranged in price between $55-$57.06 after having opened the day at $55.08 as compared to the previous trading day's close of $57.54. Other companies within the Computer Software & Services industry that declined today were: e-Future Information Technology (EFUT), down 9.3%, Astea International (ATEA), down 6.9%, Wave Systems Corporation (WAVX), down 6.7%, and Velti (VELT), down 6.6%.
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