StockNews.com Begins Coverage on SecureWorks (NASDAQ:SCWX)

Equities research analysts at StockNews.com assumed coverage on shares of SecureWorks (NASDAQ:SCWX) in a research note issued to investors on Monday. The firm set a “hold” rating on the technology company’s stock.

Separately, Needham & Company LLC restated a “hold” rating on shares of SecureWorks in a research note on Tuesday, October 22nd.

SecureWorks Price Performance

NASDAQ:SCWX opened at $8.47 on Monday. The business’s 50-day simple moving average is $8.44 and its 200-day simple moving average is $8.05. SecureWorks has a fifty-two week low of $5.61 and a fifty-two week high of $9.76. The stock has a market capitalization of $752.39 million, a PE ratio of -8.56 and a beta of 0.94.

SecureWorks (NASDAQ:SCWX) last issued its quarterly earnings data on Wednesday, December 4th. The technology company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.03). SecureWorks had a negative return on equity of 5.71% and a negative net margin of 25.49%. On average, research analysts expect that SecureWorks will post -0.29 earnings per share for the current year.

Institutional Trading of SecureWorks

A number of hedge funds and other institutional investors have recently modified their holdings of SCWX. Geode Capital Management LLC lifted its stake in SecureWorks by 14.1% in the 3rd quarter. Geode Capital Management LLC now owns 160,430 shares of the technology company’s stock valued at $1,420,000 after purchasing an additional 19,766 shares during the last quarter. State Street Corp raised its stake in SecureWorks by 5.5% in the 3rd quarter. State Street Corp now owns 44,227 shares of the technology company’s stock valued at $391,000 after acquiring an additional 2,300 shares during the period. Atom Investors LP raised its holdings in SecureWorks by 14.6% in the 3rd quarter. Atom Investors LP now owns 85,186 shares of the technology company’s stock valued at $754,000 after acquiring an additional 10,823 shares during the period. Scalar Gauge Management LLC increased its stake in shares of SecureWorks by 16.4% during the third quarter. Scalar Gauge Management LLC now owns 368,006 shares of the technology company’s stock worth $3,257,000 after purchasing an additional 51,869 shares during the period. Finally, FMR LLC lifted its holdings in shares of SecureWorks by 22.3% during the third quarter. FMR LLC now owns 21,734 shares of the technology company’s stock worth $192,000 after buying an additional 3,964 shares in the last quarter. Institutional investors and hedge funds own 14.38% of the company’s stock.

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.