SecureWorks (NASDAQ:SCWX) Sees Strong Trading Volume – Should You Buy?

Shares of SecureWorks Corp. (NASDAQ:SCWX) saw unusually-high trading volume on Friday . Approximately 142,907 shares changed hands during trading, a decline of 14% from the previous session’s volume of 166,466 shares.The stock last traded at $8.44 and had previously closed at $8.44.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on SCWX. Needham & Company LLC reiterated a “hold” rating on shares of SecureWorks in a report on Tuesday, October 22nd. StockNews.com initiated coverage on shares of SecureWorks in a report on Friday. They issued a “hold” rating for the company.

SecureWorks Price Performance

The firm’s 50 day moving average is $8.42 and its two-hundred day moving average is $7.85. The stock has a market cap of $749.71 million, a price-to-earnings ratio of -8.53 and a beta of 0.94.

Institutional Trading of SecureWorks

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Royce & Associates LP boosted its position in SecureWorks by 2.5% during the 3rd quarter. Royce & Associates LP now owns 1,324,543 shares of the technology company’s stock valued at $11,722,000 after purchasing an additional 32,929 shares during the period. Scalar Gauge Management LLC boosted its holdings in shares of SecureWorks by 16.4% during the third quarter. Scalar Gauge Management LLC now owns 368,006 shares of the technology company’s stock valued at $3,257,000 after acquiring an additional 51,869 shares during the period. Dimensional Fund Advisors LP grew its position in shares of SecureWorks by 4.9% during the second quarter. Dimensional Fund Advisors LP now owns 351,763 shares of the technology company’s stock worth $2,462,000 after acquiring an additional 16,327 shares during the last quarter. Kovack Advisors Inc. increased its holdings in shares of SecureWorks by 12.7% in the 3rd quarter. Kovack Advisors Inc. now owns 327,516 shares of the technology company’s stock worth $2,899,000 after acquiring an additional 36,816 shares during the period. Finally, Renaissance Technologies LLC lifted 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. 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.