SecureWorks (NASDAQ:SCWX) Sees Unusually-High Trading Volume – What’s Next?

SecureWorks Corp. (NASDAQ:SCWX) shares saw unusually-high trading volume on Friday . Approximately 59,843 shares were traded during mid-day trading, a decline of 21% from the previous session’s volume of 75,958 shares.The stock last traded at $8.37 and had previously closed at $8.37.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Barclays boosted their target price on SecureWorks from $6.00 to $7.00 and gave the stock an “underweight” rating in a report on Friday, September 6th. StockNews.com initiated coverage on shares of SecureWorks in a report on Saturday. They issued a “hold” rating on the stock. Finally, Needham & Company LLC reissued a “hold” rating on shares of SecureWorks in a research report on Tuesday, October 22nd.

SecureWorks Price Performance

The company has a market cap of $743.51 million, a price-to-earnings ratio of -9.85 and a beta of 1.00. The firm has a 50-day moving average price of $8.14 and a 200 day moving average price of $7.30.

SecureWorks (NASDAQ:SCWX) last issued its quarterly earnings data on Thursday, September 5th. The technology company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.05). The firm had revenue of $82.18 million during the quarter, compared to analyst estimates of $80.98 million. SecureWorks had a negative net margin of 21.23% and a negative return on equity of 4.94%. On average, equities analysts anticipate that SecureWorks Corp. will post -0.29 EPS for the current fiscal year.

Institutional Trading of SecureWorks

Several hedge funds and other institutional investors have recently bought and sold shares of SCWX. Marshall Wace LLP increased its holdings in shares of SecureWorks by 11.6% during the second quarter. Marshall Wace LLP now owns 49,997 shares of the technology company’s stock worth $350,000 after purchasing an additional 5,205 shares during the period. Scalar Gauge Management LLC increased its stake in SecureWorks by 18.8% during the 2nd quarter. Scalar Gauge Management LLC now owns 316,137 shares of the technology company’s stock worth $2,213,000 after acquiring an additional 50,000 shares during the period. Dimensional Fund Advisors LP increased its stake in SecureWorks by 4.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 351,763 shares of the technology company’s stock worth $2,462,000 after acquiring an additional 16,327 shares during the period. Oppenheimer Asset Management Inc. raised its holdings in SecureWorks by 107.0% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 38,180 shares of the technology company’s stock valued at $267,000 after acquiring an additional 19,735 shares in the last quarter. Finally, Jaffetilchin Investment Partners LLC bought a new stake in shares of SecureWorks during the 2nd quarter valued at $127,000. Institutional investors and hedge funds 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.