SecureWorks (NASDAQ:SCWX) Coverage Initiated at StockNews.com

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

SecureWorks Price Performance

SCWX stock opened at $8.51 on Friday. The stock has a market capitalization of $755.94 million, a price-to-earnings ratio of -8.60 and a beta of 0.94. SecureWorks has a 52-week low of $5.61 and a 52-week high of $9.76. The stock’s fifty day simple moving average is $8.48 and its 200-day simple moving average is $8.24.

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

Hedge Funds Weigh In On SecureWorks

Institutional investors and hedge funds have recently bought and sold shares of the stock. Retirement Solution LLC acquired a new position in shares of SecureWorks in the 4th quarter valued at $85,000. Balyasny Asset Management L.P. acquired a new position in SecureWorks in the fourth quarter valued at $103,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in SecureWorks in the fourth quarter valued at $169,000. Y.D. More Investments Ltd grew its position in SecureWorks by 7.9% during the fourth quarter. Y.D. More Investments Ltd now owns 20,465 shares of the technology company’s stock valued at $173,000 after acquiring an additional 1,501 shares during the period. Finally, FMR LLC increased its stake in SecureWorks by 22.3% during the third quarter. FMR LLC now owns 21,734 shares of the technology company’s stock worth $192,000 after acquiring an additional 3,964 shares during the last quarter. Institutional investors and hedge funds own 14.38% of the company’s stock.

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.