SecureWorks (NASDAQ:SCWX) Earns Hold Rating from Analysts at StockNews.com

StockNews.com started coverage on shares of SecureWorks (NASDAQ:SCWX) in a research report released on Thursday. The brokerage issued a hold rating on the technology company’s stock.

Several other research analysts have also 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 boosted their price objective 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.

SecureWorks Stock Performance

Shares of SCWX stock opened at $8.46 on Thursday. The stock’s fifty day moving average is $8.40 and its 200-day moving average is $7.77. SecureWorks has a 52 week low of $5.61 and a 52 week high of $9.76. The stock has a market capitalization of $751.48 million, a PE ratio of -8.55 and a beta of 1.00.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Jaffetilchin Investment Partners LLC bought a new stake in SecureWorks in the second quarter worth about $127,000. Oppenheimer Asset Management Inc. boosted its position 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 purchasing an additional 19,735 shares during the period. Dimensional Fund Advisors LP grew its stake in SecureWorks by 4.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 351,763 shares of the technology company’s stock worth $2,462,000 after buying an additional 16,327 shares during the last quarter. Renaissance Technologies LLC raised its position in SecureWorks by 22.3% in the 2nd quarter. Renaissance Technologies LLC now owns 181,540 shares of the technology company’s stock valued at $1,271,000 after purchasing an additional 33,100 shares during the last quarter. Finally, King Luther Capital Management Corp acquired a new stake in SecureWorks during the 2nd quarter worth $411,000. Institutional investors and hedge funds 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.