SecureWorks (NASDAQ:SCWX) Given Hold Rating at Needham & Company LLC

Needham & Company LLC restated their hold rating on shares of SecureWorks (NASDAQ:SCWX) in a research report report published on Friday, Benzinga reports.

SecureWorks Price Performance

Shares of SecureWorks stock opened at $8.28 on Friday. The firm has a 50 day simple moving average of $7.41 and a 200 day simple moving average of $6.65. SecureWorks has a fifty-two week low of $5.40 and a fifty-two week high of $9.76. The firm has a market cap of $731.95 million, a P/E ratio of -7.81 and a beta of 0.99.

SecureWorks (NASDAQ:SCWX) last released its earnings results on Thursday, June 6th. The technology company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.06) by $0.01. The company had revenue of $85.65 million during the quarter, compared to analysts’ expectations of $83.95 million. SecureWorks had a negative return on equity of 6.01% and a negative net margin of 25.52%. On average, sell-side analysts expect that SecureWorks will post -0.24 EPS for the current year.

Institutional Trading of SecureWorks

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Squarepoint Ops LLC bought a new position in shares of SecureWorks in the 2nd quarter valued at about $121,000. Jaffetilchin Investment Partners LLC acquired a new position in SecureWorks in the second quarter valued at approximately $127,000. Oppenheimer Asset Management Inc. grew its holdings in SecureWorks by 107.0% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 38,180 shares of the technology company’s stock worth $267,000 after acquiring an additional 19,735 shares during the period. Marshall Wace LLP raised its position in shares of SecureWorks by 11.6% during the 2nd quarter. Marshall Wace LLP now owns 49,997 shares of the technology company’s stock valued at $350,000 after acquiring an additional 5,205 shares during the last quarter. Finally, King Luther Capital Management Corp acquired a new position in shares of SecureWorks in the 2nd quarter valued at $411,000. 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.