SecureWorks (NASDAQ:SCWX) Shares Gap Down to $8.09

SecureWorks Corp. (NASDAQ:SCWX)’s share price gapped down before the market opened on Monday . The stock had previously closed at $8.09, but opened at $7.81. SecureWorks shares last traded at $8.02, with a volume of 7,427 shares traded.

Wall Street Analysts Forecast Growth

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

SecureWorks Stock Performance

The firm has a market cap of $697.50 million, a P/E ratio of -7.63 and a beta of 0.99. The firm has a 50 day simple moving average of $7.58 and a 200 day simple moving average of $6.73.

Hedge Funds Weigh In On SecureWorks

A number of institutional investors have recently added to or reduced their stakes in SCWX. Squarepoint Ops LLC purchased a new position in shares of SecureWorks in the 2nd quarter worth about $121,000. Jaffetilchin Investment Partners LLC purchased a new position in shares of SecureWorks during the second quarter worth approximately $127,000. Oppenheimer Asset Management Inc. lifted its holdings in shares of SecureWorks by 107.0% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 38,180 shares of the technology company’s stock worth $267,000 after acquiring an additional 19,735 shares during the last quarter. Marshall Wace LLP boosted its stake in shares of 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 in the last quarter. Finally, King Luther Capital Management Corp bought a new position in shares of SecureWorks during the 2nd quarter valued at $411,000. 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.