StockNews.com Begins Coverage on SecureWorks (NASDAQ:SCWX)

StockNews.com assumed coverage on shares of SecureWorks (NASDAQ:SCWX) in a research note published on Saturday. The firm issued a hold rating on the technology company’s stock.

SecureWorks Stock Performance

SecureWorks stock opened at $8.51 on Friday. The stock has a fifty day moving average of $8.48 and a 200 day moving average of $8.29. SecureWorks has a one year low of $5.61 and a one year high of $9.76. The stock has a market cap of $755.94 million, a PE ratio of -8.60 and a beta of 0.94.

SecureWorks (NASDAQ:SCWX) last released its quarterly earnings results on Wednesday, December 4th. The technology company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.03). SecureWorks had a negative net margin of 25.49% and a negative return on equity of 5.71%. As a group, sell-side analysts predict that SecureWorks will post -0.29 EPS for the current fiscal year.

Institutional Trading of SecureWorks

Several hedge funds have recently bought and sold shares of the stock. Polar Asset Management Partners Inc. bought a new stake in SecureWorks during the fourth quarter valued at about $1,269,000. Squarepoint Ops LLC boosted its stake in shares of SecureWorks by 1,133.1% in the fourth quarter. Squarepoint Ops LLC now owns 235,998 shares of the technology company’s stock worth $1,997,000 after acquiring an additional 216,860 shares during the period. Two Sigma Investments LP bought a new position in shares of SecureWorks in the fourth quarter worth about $476,000. Cubist Systematic Strategies LLC bought a new position in shares of SecureWorks in the fourth quarter worth about $239,000. Finally, Balyasny Asset Management L.P. bought a new position in shares of SecureWorks in the fourth quarter worth about $103,000. 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.