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

SecureWorks Corp. (NASDAQ:SCWX) saw a large increase in short interest in the month of August. As of August 31st, there was short interest totalling 196,600 shares, an increase of 141.8% from the August 15th total of 81,300 shares. Currently, 1.8% of the company’s shares are sold short. Based on an average daily volume of 56,100 shares, the short-interest ratio is presently 3.5 days.

SecureWorks Price Performance

SCWX stock opened at $8.06 on Friday. The stock has a market capitalization of $712.50 million, a PE ratio of -7.60 and a beta of 0.99. SecureWorks has a 1 year low of $5.40 and a 1 year high of $9.76. The company’s 50-day moving average is $7.51 and its 200-day moving average is $6.69.

Analyst Upgrades and Downgrades

SCWX has been the subject of several research reports. Barclays increased their price objective on shares of SecureWorks from $6.00 to $7.00 and gave the stock an “underweight” rating in a research report on Friday, September 6th. Needham & Company LLC reissued a “hold” rating on shares of SecureWorks in a research report on Friday, September 6th.

Hedge Funds Weigh In On SecureWorks

Large investors have recently bought and sold shares of the stock. Brooktree Capital Management raised its stake in shares of SecureWorks by 1.1% in the first quarter. Brooktree Capital Management now owns 163,910 shares of the technology company’s stock valued at $1,101,000 after buying an additional 1,775 shares during the period. Horrell Capital Management Inc. increased its holdings in SecureWorks by 0.3% during the 1st quarter. Horrell Capital Management Inc. now owns 582,878 shares of the technology company’s stock worth $3,917,000 after acquiring an additional 2,000 shares during the period. Marshall Wace LLP boosted its holdings in SecureWorks by 11.6% in the 2nd quarter. Marshall Wace LLP now owns 49,997 shares of the technology company’s stock valued at $350,000 after purchasing an additional 5,205 shares during the period. Palogic Value Management L.P. grew its position in SecureWorks by 2.7% during the fourth quarter. Palogic Value Management L.P. now owns 243,000 shares of the technology company’s stock worth $1,793,000 after buying an additional 6,497 shares in the last quarter. Finally, First Eagle Investment Management LLC grew its holdings in shares of SecureWorks by 1.5% during the first quarter. First Eagle Investment Management LLC now owns 891,728 shares of the technology company’s stock worth $5,992,000 after purchasing an additional 13,551 shares in the last quarter. 14.38% of the stock is currently owned by institutional investors.

SecureWorks Company Profile

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.