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

Shares of SecureWorks Corp. (NASDAQ:SCWX) saw strong trading volume on Monday . 97,026 shares changed hands during trading, an increase of 35% from the previous session’s volume of 71,875 shares.The stock last traded at $8.37 and had previously closed at $8.37.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. StockNews.com assumed coverage on SecureWorks in a research report on Thursday. They set a “hold” rating for the company. Needham & Company LLC reiterated a “hold” rating on shares of SecureWorks in a research report on Tuesday, October 22nd. Finally, Barclays raised their price target on SecureWorks from $6.00 to $7.00 and gave the company an “underweight” rating in a research note on Friday, September 6th.

SecureWorks Stock Performance

The company has a market capitalization of $743.51 million, a price-to-earnings ratio of -9.85 and a beta of 1.00. The company has a fifty day moving average of $8.04 and a 200-day moving average of $7.15.

SecureWorks (NASDAQ:SCWX) last posted its earnings results 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 company 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%. As a group, equities research analysts expect that SecureWorks Corp. will post -0.29 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Squarepoint Ops LLC acquired a new position in SecureWorks during the second quarter worth $121,000. Jaffetilchin Investment Partners LLC purchased a new stake in SecureWorks during the second quarter worth $127,000. Oppenheimer Asset Management Inc. boosted its position in SecureWorks by 107.0% during the second quarter. Oppenheimer Asset Management Inc. now owns 38,180 shares of the technology company’s stock worth $267,000 after purchasing an additional 19,735 shares in the last quarter. Marshall Wace LLP boosted its position in 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 in the last quarter. Finally, Inspire Investing LLC purchased a new stake in SecureWorks during the third quarter worth $449,000. 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.