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

Analysts at StockNews.com began coverage on shares of SecureWorks (NASDAQ:SCWX) in a research note issued on Thursday. The brokerage set a “hold” rating on the technology company’s stock.

SecureWorks Stock Performance

Shares of SecureWorks stock opened at $8.51 on Thursday. The company has a 50 day moving average of $8.47 and a 200-day moving average of $8.18. SecureWorks has a 1-year low of $5.61 and a 1-year high of $9.76. The company has a market cap of $755.94 million, a PE ratio of -8.60 and a beta of 0.94.

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

Hedge Funds Weigh In On SecureWorks

A number of institutional investors have recently added to or reduced their stakes in the stock. Royce & Associates LP increased its position in SecureWorks by 2.5% during the 3rd quarter. Royce & Associates LP now owns 1,324,543 shares of the technology company’s stock worth $11,722,000 after purchasing an additional 32,929 shares in the last quarter. Gardner Lewis Asset Management L P acquired a new position in SecureWorks during the 4th quarter worth approximately $10,795,000. FIL Ltd acquired a new position in SecureWorks during the 4th quarter worth approximately $6,392,000. Alpine Associates Management Inc. acquired a new position in SecureWorks in the 4th quarter valued at approximately $5,273,000. Finally, Alberta Investment Management Corp acquired a new position in SecureWorks in the 4th quarter valued at approximately $5,076,000. 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.