NEW YORK (TheStreet) -- Shares of Red Hat (RHT) - Get Report were falling 0.5% to $76.28 in mid-morning trading Tuesday.

The software company announced new updates to its JBoss Data Virtualization and JBoss Data Grid enterprise products. The updates bring a number of enhancements that address specific challenges related to integrating big data environments for faster and more accurate application data feeds.

The new JBoss Data Virtualization 6.1 expands support of JBoss Data Grid as a data source with the ability to perform writes and reads, as well as provide an embedded cache and to the remote cache capability that was previously available.

The new JBoss Data Grid 6.4, Red Hat's high-performance in-memory data store, no supports bi-directional read/write integration in JBoss Data Virtualization.

Insight from TheStreet's Research Team:

Red Hat is the Trifecta Stocks team's chart of the day. Here's what Trifecta Stock's Bryan Ashenberg and Bob Lang had to say about the stock:

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Red Hat, (RHT:NYSE) a holding of Action Alerts PLUS, is a resilient company that has been around since the dotcom days of the go-go '90s.

It has persevered, changed with the environment and now thrives in the new cloud space with some great offerings and services.

Last week, it once again beat estimates and offered a huge buyback of stock.

Accordingly, the stock rocketed higher and closed at a multi-year high.

The current chart and technicals are in great shape, and though it appears to be overbought on the daily chart, there seems to be more room to rise.

The uptrend line is in place, and we can see the high volume surges on earnings days in December and just last week.

The MACD is still on a buy signal, the momentum indicators are hot and may indicate a slight pullback is due, but it will likely be shallow and just another buying chance.

We had a superb win last week and rolled this up to the May 75 call strike.

-Bryan Ashenberg and Bob Lang, "Chart of the Day," originally published on 3/31/15 on

Separately, TheStreet Ratings team rates RED HAT INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:

"We rate RED HAT INC (RHT) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its robust revenue growth, growth in earnings per share, good cash flow from operations, solid stock price performance and increase in net income. We feel these strengths outweigh the fact that the company is trading at a premium valuation based on our review of its current price compared to such things as earnings and book value."

You can view the full analysis from the report here: RHT Ratings Report