SecureWorks (NASDAQ:SCWX) Trading Down 3.6%

SecureWorks Corp. (NASDAQ:SCWX) shares dropped 3.6% during mid-day trading on Friday . The stock traded as low as $7.18 and last traded at $7.18. Approximately 12,964 shares were traded during mid-day trading, a decline of 65% from the average daily volume of 37,436 shares. The stock had previously closed at $7.45.

Analysts Set New Price Targets

Separately, Needham & Company LLC reissued a “hold” rating on shares of SecureWorks in a research note on Thursday, June 6th.

SecureWorks Stock Down 3.5 %

The business has a 50-day moving average of $6.41 and a 200-day moving average of $6.53.

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

Insider Activity at SecureWorks

In related news, major shareholder Neil Gagnon bought 13,798 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The shares were acquired at an average price of $5.99 per share, with a total value of $82,650.02. Following the completion of the transaction, the insider now owns 610,947 shares in the company, valued at $3,659,572.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 81.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On SecureWorks

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. First Eagle Investment Management LLC grew its holdings in SecureWorks by 1.5% during the first quarter. First Eagle Investment Management LLC now owns 891,728 shares of the technology company’s stock worth $5,992,000 after purchasing an additional 13,551 shares during the period. Horrell Capital Management Inc. boosted its holdings in shares of SecureWorks by 0.3% during the first quarter. Horrell Capital Management Inc. now owns 582,878 shares of the technology company’s stock worth $3,917,000 after acquiring an additional 2,000 shares during the period. Scalar Gauge Management LLC bought a new stake in shares of SecureWorks during the fourth quarter worth approximately $1,816,000. Palogic Value Management L.P. boosted its holdings in shares of SecureWorks by 2.7% during the fourth quarter. Palogic Value Management L.P. now owns 243,000 shares of the technology company’s stock worth $1,793,000 after acquiring an additional 6,497 shares during the period. Finally, Kovack Advisors Inc. boosted its holdings in shares of SecureWorks by 55.4% during the first quarter. Kovack Advisors Inc. now owns 207,400 shares of the technology company’s stock worth $1,394,000 after acquiring an additional 73,900 shares during the period. 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.