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NEW YORK ( TheStreet) -- Red Hat (NYSE: RHT) hit a new 52-week high Thursday as it is currently trading at $49.08, above its previous 52-week high of $49 with 47,056 shares traded as of 9:36 a.m. ET. Average volume has been 3.1 million shares over the past 30 days. Red Hat has a market cap of $9 billion and is part of the technology sector and computer software & services industry. Shares are up 5.7% year to date as of the close of trading on Wednesday. Red Hat, Inc. provides open source software solutions to enterprises worldwide. It also offers enterprise-ready open source operating system platforms. The company has a P/E ratio of 69.3, equal to the average computer software & services industry P/E ratio and above the S&P 500 P/E ratio of 17.7.