Kovack Advisors Inc. Has $2.90 Million Stock Position in SecureWorks Corp. (NASDAQ:SCWX)

Kovack Advisors Inc. lifted its position in shares of SecureWorks Corp. (NASDAQ:SCWX) by 12.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 327,516 shares of the technology company’s stock after acquiring an additional 36,816 shares during the quarter. Kovack Advisors Inc. owned approximately 0.37% of SecureWorks worth $2,899,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in SCWX. Inspire Investing LLC bought a new stake in SecureWorks during the 3rd quarter worth about $449,000. Squarepoint Ops LLC bought a new stake in shares of SecureWorks during the second quarter worth approximately $121,000. Scalar Gauge Management LLC boosted its position in shares of SecureWorks by 18.8% in the 2nd quarter. Scalar Gauge Management LLC now owns 316,137 shares of the technology company’s stock worth $2,213,000 after purchasing an additional 50,000 shares during the last quarter. Marshall Wace LLP increased its holdings in SecureWorks by 11.6% in the second quarter. Marshall Wace LLP now owns 49,997 shares of the technology company’s stock valued at $350,000 after purchasing an additional 5,205 shares during the last quarter. Finally, King Luther Capital Management Corp acquired a new position in SecureWorks in the second quarter valued at about $411,000. Institutional investors own 14.38% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Needham & Company LLC reissued a “hold” rating on shares of SecureWorks in a research note on Tuesday, October 22nd. Barclays lifted their price target on shares of SecureWorks from $6.00 to $7.00 and gave the stock an “underweight” rating in a research report on Friday, September 6th. Finally, StockNews.com began coverage on shares of SecureWorks in a research report on Friday, November 8th. They issued a “hold” rating for the company.

SecureWorks Price Performance

NASDAQ SCWX traded up $0.01 on Wednesday, reaching $8.38. The company had a trading volume of 11,866 shares, compared to its average volume of 75,005. The company’s fifty day moving average is $8.10 and its 200-day moving average is $7.25. SecureWorks Corp. has a 1-year low of $5.61 and a 1-year high of $9.76.

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

SecureWorks 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.