SecureWorks (NASDAQ:SCWX) Sees Strong Trading Volume

SecureWorks Corp. (NASDAQ:SCWX) shares saw strong trading volume on Wednesday . 108,677 shares were traded during mid-day trading, an increase of 193% from the previous session’s volume of 37,115 shares.The stock last traded at $7.35 and had previously closed at $7.10.

Analyst Ratings Changes

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

SecureWorks Price Performance

The firm has a market cap of $625.01 million, a PE ratio of -6.74 and a beta of 0.97. The business has a 50-day moving average price of $6.82 and a two-hundred day moving average price of $6.59.

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

Institutional Trading of SecureWorks

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Kovack Advisors Inc. raised its holdings in SecureWorks by 114.6% in the 4th quarter. Kovack Advisors Inc. now owns 133,500 shares of the technology company’s stock valued at $985,000 after acquiring an additional 71,300 shares during the last quarter. Y.D. More Investments Ltd boosted its stake in 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 buying an additional 6,134 shares during the last quarter. First Eagle Investment Management LLC grew its holdings in SecureWorks by 4.2% in the 4th quarter. First Eagle Investment Management LLC now owns 878,177 shares of the technology company’s stock valued at $6,481,000 after buying an additional 35,044 shares during the period. Scalar Gauge Management LLC acquired a new position in shares of SecureWorks during the 4th quarter valued at about $1,816,000. Finally, Palogic Value Management L.P. lifted its holdings in shares of SecureWorks by 2.7% during the 4th quarter. Palogic Value Management L.P. now owns 243,000 shares of the technology company’s stock worth $1,793,000 after acquiring an additional 6,497 shares during the period. Hedge funds and other institutional investors own 14.38% of the company’s stock.

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.