NEW YORK (
) -- Shares of
) were gapping up Thursday morning with an open price 13.4% higher than Wednesday's closing price. The stock closed at $39.97 Wednesday and opened today's trading at $45.31.
The average volume for Red Hat has been two million shares per day over the past 30 days. Red Hat has a market cap of $7.6 billion and is part of the
industry. Shares are down 12.4% year to date as of the close of trading on Wednesday.
Red Hat, Inc., together with its subsidiaries, provides open source software solutions to enterprises worldwide. The company has a P/E ratio of 79.1, below the average computer software & services industry P/E ratio of 80.7 and above the S&P 500 P/E ratio of 16.
TheStreet Ratings rates Red Hat as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, impressive record of earnings per share growth, compelling growth in net income and good cash flow from operations. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results. You can view the full
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