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

Equities researchers at StockNews.com started coverage on shares of SecureWorks (NASDAQ:SCWX) in a research note issued on Wednesday. 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 report on Tuesday, October 22nd.

SecureWorks Stock Performance

SecureWorks stock opened at $8.51 on Wednesday. The stock has a market cap of $755.94 million, a price-to-earnings ratio of -8.60 and a beta of 0.94. The company’s 50-day moving average price is $8.46 and its two-hundred day moving average price is $8.14. SecureWorks has a 52 week low of $5.61 and a 52 week high of $9.76.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Y.D. More Investments Ltd boosted its holdings in shares of SecureWorks by 7.9% in the fourth quarter. Y.D. More Investments Ltd now owns 20,465 shares of the technology company’s stock worth $173,000 after buying an additional 1,501 shares during the period. State Street Corp boosted its holdings in shares of SecureWorks by 5.5% in the third quarter. State Street Corp now owns 44,227 shares of the technology company’s stock worth $391,000 after buying an additional 2,300 shares during the period. FMR LLC boosted its holdings in shares of SecureWorks by 22.3% in 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 during the period. Retirement Solution LLC acquired a new position in shares of SecureWorks in the fourth quarter worth about $85,000. Finally, Atom Investors LP boosted its holdings in shares of SecureWorks by 14.6% in the third quarter. Atom Investors LP now owns 85,186 shares of the technology company’s stock worth $754,000 after buying an additional 10,823 shares during the period. 14.38% of the stock is currently owned by institutional investors and hedge funds.

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.