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Red Hat Inc. (RHT) Broke Out To A New High On Strong Q2 Earnings

Red Hat Inc. (RHT) reported second quarter EPS of $0.77 after the close Monday, up from $0.55 a year ago. The consensus estimate was for EPS of $0.67.

Red Hat gapped up sharply Tuesday, but pared its gains in early trade, before settling into a range. The stock closed up by 4.31 at $110.07 with volume at a 3-month high. Red hat broke out of a 1-month trading range and set a new high for the year.

RHT featured on our premium service Short-Term Investor on March 28 at an opening price of $86.47. On September 26th it touched a new 52-week intra-day high of $113.73, representing a gain of 31.5% from our published price within 6 months.

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by RTTNews Staff Writer

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