SecureWorks (NASDAQ:SCWX) Sees Large Volume Increase – What’s Next?

SecureWorks Corp. (NASDAQ:SCWX) saw unusually-strong trading volume on Tuesday . Approximately 565,770 shares were traded during trading, an increase of 188% from the previous session’s volume of 196,739 shares.The stock last traded at $8.50 and had previously closed at $8.48.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SCWX. Needham & Company LLC reaffirmed a “hold” rating on shares of SecureWorks in a research note on Tuesday, October 22nd. StockNews.com initiated coverage on SecureWorks in a research note on Monday. They issued a “hold” rating on the stock.

SecureWorks Stock Up 0.1 %

The stock has a market capitalization of $754.17 million, a price-to-earnings ratio of -8.58 and a beta of 0.94. The business’s 50-day moving average is $8.44 and its two-hundred day moving average is $8.07.

SecureWorks (NASDAQ:SCWX) last issued 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 forecast that SecureWorks Corp. will post -0.29 EPS for the current fiscal year.

Hedge Funds Weigh In On SecureWorks

Institutional investors have recently bought and sold shares of the company. Gladius Capital Management LP acquired a new stake in shares of SecureWorks during the 3rd quarter worth approximately $463,000. Scalar Gauge Management LLC increased its stake in SecureWorks by 16.4% during 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 during the last quarter. Inspire Investing LLC purchased a new stake in SecureWorks in the third quarter valued at $449,000. Brown Brothers Harriman & Co. purchased a new position in shares of SecureWorks during the 3rd quarter worth $442,000. Finally, DRW Securities LLC acquired a new stake in shares of SecureWorks during the 3rd quarter worth about $407,000. 14.38% of the stock is owned by hedge funds and other institutional investors.

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.