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

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

SecureWorks Stock Performance

SecureWorks stock opened at $8.51 on Friday. SecureWorks has a 1-year low of $5.61 and a 1-year high of $9.76. The firm has a market capitalization of $755.94 million, a price-to-earnings ratio of -8.60 and a beta of 0.94. The firm’s fifty day moving average price is $8.49 and its two-hundred day moving average price is $8.33.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Polar Asset Management Partners Inc. bought a new position in shares of SecureWorks in the fourth quarter valued at $1,269,000. Squarepoint Ops LLC lifted its position in shares of SecureWorks by 1,133.1% during the fourth quarter. Squarepoint Ops LLC now owns 235,998 shares of the technology company’s stock valued at $1,997,000 after purchasing an additional 216,860 shares in the last quarter. Two Sigma Investments LP bought a new position in shares of SecureWorks during the fourth quarter valued at about $476,000. Cubist Systematic Strategies LLC bought a new position in shares of SecureWorks during the fourth quarter valued at about $239,000. Finally, Balyasny Asset Management L.P. bought a new position in shares of SecureWorks during the fourth quarter valued at about $103,000. 14.38% of the stock is owned by institutional investors.

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.