SecureWorks (NASDAQ:SCWX) Sees Unusually-High Trading Volume – Here’s Why

Shares of SecureWorks Corp. (NASDAQ:SCWX) saw unusually-strong trading volume on Friday . Approximately 73,796 shares changed hands during trading, a decline of 24% from the previous session’s volume of 97,479 shares.The stock last traded at $8.45 and had previously closed at $8.38.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on SCWX shares. Barclays boosted their price objective on shares of SecureWorks from $6.00 to $7.00 and gave the company an “underweight” rating in a research report on Friday, September 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of SecureWorks in a research report on Tuesday, October 22nd. Finally, StockNews.com started coverage on shares of SecureWorks in a research report on Sunday, November 24th. They set a “hold” rating for the company.

SecureWorks Trading Up 0.7 %

The stock has a market cap of $749.71 million, a P/E ratio of -9.93 and a beta of 1.00. The firm’s 50-day simple moving average is $8.24 and its 200 day simple moving average is $7.47.

SecureWorks (NASDAQ:SCWX) last posted 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). SecureWorks had a negative return on equity of 4.94% and a negative net margin of 21.23%. The firm had revenue of $82.18 million during the quarter, compared to the consensus estimate of $80.98 million. On average, analysts anticipate that SecureWorks Corp. will post -0.29 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC boosted its holdings in shares of SecureWorks by 14.1% in the third quarter. Geode Capital Management LLC now owns 160,430 shares of the technology company’s stock valued at $1,420,000 after acquiring an additional 19,766 shares in the last quarter. State Street Corp boosted its holdings in shares of SecureWorks by 5.5% in the third quarter. State Street Corp now owns 44,227 shares of the technology company’s stock valued at $391,000 after acquiring an additional 2,300 shares in the last quarter. Atom Investors LP boosted its holdings in shares of SecureWorks by 14.6% in the third quarter. Atom Investors LP now owns 85,186 shares of the technology company’s stock valued at $754,000 after acquiring an additional 10,823 shares in the last quarter. Scalar Gauge Management LLC boosted its holdings in shares of SecureWorks by 16.4% in 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 in the last quarter. Finally, FMR LLC boosted its holdings in shares of 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 acquiring an additional 3,964 shares in the last quarter. 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.