Short Interest in SecureWorks Corp. (NASDAQ:SCWX) Grows By 53.8%

SecureWorks Corp. (NASDAQ:SCWX) was the recipient of a significant growth in short interest during the month of December. As of December 31st, there was short interest totalling 116,600 shares, a growth of 53.8% from the December 15th total of 75,800 shares. Based on an average daily volume of 288,500 shares, the days-to-cover ratio is currently 0.4 days. Currently, 1.1% of the company’s shares are short sold.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on SCWX shares. StockNews.com started coverage on shares of SecureWorks in a report on Saturday, January 11th. They issued a “hold” rating on the stock. Needham & Company LLC reissued a “hold” rating on shares of SecureWorks in a research report on Tuesday, October 22nd.

Hedge Funds Weigh In On SecureWorks

Several hedge funds have recently made changes to their positions in SCWX. Oppenheimer Asset Management Inc. boosted its holdings in SecureWorks by 107.0% in the second quarter. Oppenheimer Asset Management Inc. now owns 38,180 shares of the technology company’s stock valued at $267,000 after acquiring an additional 19,735 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of SecureWorks by 4.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 351,763 shares of the technology company’s stock worth $2,462,000 after purchasing an additional 16,327 shares during the period. Renaissance Technologies LLC boosted its stake in shares of SecureWorks by 22.3% during the 2nd quarter. Renaissance Technologies LLC now owns 181,540 shares of the technology company’s stock valued at $1,271,000 after purchasing an additional 33,100 shares in the last quarter. King Luther Capital Management Corp purchased a new position in shares of SecureWorks during the second quarter valued at about $411,000. Finally, Marshall Wace LLP raised its stake in SecureWorks by 11.6% in the second quarter. Marshall Wace LLP now owns 49,997 shares of the technology company’s stock worth $350,000 after buying an additional 5,205 shares in the last quarter. 14.38% of the stock is owned by hedge funds and other institutional investors.

SecureWorks Price Performance

NASDAQ:SCWX traded up $0.01 during mid-day trading on Friday, reaching $8.45. 137,001 shares of the company’s stock traded hands, compared to its average volume of 197,408. SecureWorks has a 12-month low of $5.61 and a 12-month high of $9.76. The company has a 50 day moving average price of $8.43 and a 200-day moving average price of $7.99. The firm has a market capitalization of $750.61 million, a price-to-earnings ratio of -8.54 and a beta of 0.94.

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.