SecureWorks (NASDAQ:SCWX) Sees Strong Trading Volume – What’s Next?

Shares of SecureWorks Corp. (NASDAQ:SCWX) saw strong trading volume on Friday . 149,248 shares traded hands during trading, an increase of 72% from the previous session’s volume of 86,568 shares.The stock last traded at $8.37 and had previously closed at $8.36.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on SCWX shares. Barclays upped their price target on shares of SecureWorks from $6.00 to $7.00 and gave the stock an “underweight” rating in a report on Friday, September 6th. StockNews.com began coverage on SecureWorks in a research note on Saturday, November 16th. They set a “hold” rating on the stock. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of SecureWorks in a research note on Tuesday, October 22nd.

SecureWorks Trading Up 0.1 %

The company has a 50-day moving average of $8.18 and a 200-day moving average of $7.37. The firm has a market capitalization of $743.49 million, a P/E ratio of -9.85 and a beta of 1.00.

SecureWorks (NASDAQ:SCWX) last announced its earnings results on Thursday, September 5th. The technology company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.05). SecureWorks had a negative net margin of 21.23% and a negative return on equity of 4.94%. The company had revenue of $82.18 million during the quarter, compared to the consensus estimate of $80.98 million. Research analysts predict that SecureWorks Corp. will post -0.29 EPS for the current year.

Institutional Trading of SecureWorks

A number of large investors have recently bought and sold shares of the business. King Luther Capital Management Corp acquired a new stake in SecureWorks in the second quarter worth $411,000. Gladius Capital Management LP acquired a new position in SecureWorks during the 3rd quarter worth approximately $463,000. Scalar Gauge Management LLC boosted its holdings in SecureWorks by 16.4% in the third quarter. Scalar Gauge Management LLC now owns 368,006 shares of the technology company’s stock worth $3,257,000 after acquiring an additional 51,869 shares in the last quarter. Inspire Investing LLC acquired a new stake in SecureWorks in the third quarter valued at approximately $449,000. Finally, Brown Brothers Harriman & Co. bought a new stake in shares of SecureWorks during the third quarter valued at approximately $442,000. 14.38% of the stock is currently owned by institutional investors and hedge funds.

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.