SecureWorks (NASDAQ:SCWX) Sees Strong Trading Volume – Still a Buy?

Shares of SecureWorks Corp. (NASDAQ:SCWX) saw unusually-strong trading volume on Friday . Approximately 149,248 shares traded hands during mid-day trading, an increase of 72% from the previous session’s volume of 86,568 shares.The stock last traded at $8.37 and had previously closed at $8.36.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Needham & Company LLC reissued a “hold” rating on shares of SecureWorks in a report on Tuesday, October 22nd. Barclays increased their price target on SecureWorks from $6.00 to $7.00 and gave the company an “underweight” rating in a research report on Friday, September 6th. Finally, StockNews.com began coverage on SecureWorks in a report on Saturday, November 16th. They set a “hold” rating on the stock.

SecureWorks Stock Performance

The stock has a market cap of $745.28 million, a price-to-earnings ratio of -9.87 and a beta of 1.00. The business’s 50 day moving average is $8.19 and its 200 day moving average is $7.39.

SecureWorks (NASDAQ:SCWX) last issued its earnings results on Thursday, September 5th. The technology company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.05). The business had revenue of $82.18 million during 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 expect that SecureWorks Corp. will post -0.29 earnings per share for the current year.

Hedge Funds Weigh In On SecureWorks

Several institutional investors and hedge funds have recently bought and sold shares of SCWX. Squarepoint Ops LLC acquired a new stake in shares of SecureWorks during the second quarter worth approximately $121,000. Jaffetilchin Investment Partners LLC acquired a new stake in shares of SecureWorks during the 2nd quarter valued at $127,000. FMR LLC grew its stake in SecureWorks by 22.3% in the third quarter. FMR LLC now owns 21,734 shares of the technology company’s stock valued at $192,000 after purchasing an additional 3,964 shares in the last quarter. Oppenheimer Asset Management Inc. grew its stake in shares of SecureWorks by 107.0% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 38,180 shares of the technology company’s stock valued at $267,000 after buying an additional 19,735 shares in the last quarter. Finally, State Street Corp increased its holdings in SecureWorks by 5.5% in the third quarter. State Street Corp now owns 44,227 shares of the technology company’s stock worth $391,000 after buying an additional 2,300 shares during the last quarter. Hedge funds and other institutional investors 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.