SecureWorks Corp. (NASDAQ:SCWX) Sees Significant Increase in Short Interest

SecureWorks Corp. (NASDAQ:SCWX) was the recipient of a significant increase in short interest during the month of July. As of July 15th, there was short interest totalling 78,100 shares, an increase of 36.8% from the June 30th total of 57,100 shares. Approximately 0.7% of the shares of the stock are short sold. Based on an average daily volume of 43,400 shares, the short-interest ratio is presently 1.8 days.

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC reaffirmed a “hold” rating on shares of SecureWorks in a research note on Thursday, June 6th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Scalar Gauge Management LLC bought a new position in SecureWorks during the 4th quarter valued at approximately $1,816,000. Citigroup Inc. raised its position in shares of SecureWorks by 95.3% in the 3rd quarter. Citigroup Inc. now owns 9,700 shares of the technology company’s stock worth $60,000 after acquiring an additional 4,734 shares in the last quarter. Kovack Advisors Inc. raised its position in shares of SecureWorks by 55.4% in the 1st quarter. Kovack Advisors Inc. now owns 207,400 shares of the technology company’s stock worth $1,394,000 after acquiring an additional 73,900 shares in the last quarter. First Eagle Investment Management LLC raised its position in shares of SecureWorks by 4.2% in the 4th quarter. First Eagle Investment Management LLC now owns 878,177 shares of the technology company’s stock worth $6,481,000 after acquiring an additional 35,044 shares in the last quarter. Finally, Y.D. More Investments Ltd raised its position in shares of SecureWorks by 32.6% in the 4th quarter. Y.D. More Investments Ltd now owns 24,963 shares of the technology company’s stock worth $184,000 after acquiring an additional 6,134 shares in the last quarter. Institutional investors own 14.38% of the company’s stock.

SecureWorks Stock Down 1.0 %

Shares of SCWX traded down $0.07 during trading hours on Friday, hitting $7.22. The company had a trading volume of 12,718 shares, compared to its average volume of 30,196. The firm has a market cap of $638.25 million, a P/E ratio of -6.81 and a beta of 0.97. The stock’s 50 day moving average price is $6.64 and its 200 day moving average price is $6.57. SecureWorks has a 52-week low of $5.40 and a 52-week high of $8.20.

SecureWorks (NASDAQ:SCWX) last released its quarterly earnings results on Thursday, June 6th. The technology company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.01. The business had revenue of $85.65 million during the quarter, compared to analyst estimates of $83.95 million. SecureWorks had a negative return on equity of 6.01% and a negative net margin of 25.52%. On average, research analysts expect that SecureWorks will post -0.24 EPS for the current fiscal year.

About SecureWorks

SecureWorks Corp., through its subsidiaries, provides technology-driven information security solutions for protecting its customers in the United States and internationally. The company's solutions include software-as-a-service solutions; managed security services; and professional services, including incident response and penetration testing services.