SecureWorks Corp. (NASDAQ:SCWX) Short Interest Down 15.5% in December

SecureWorks Corp. (NASDAQ:SCWX) was the recipient of a significant decline in short interest during the month of December. As of December 15th, there was short interest totalling 75,800 shares, a decline of 15.5% from the November 30th total of 89,700 shares. Based on an average daily trading volume, of 271,500 shares, the days-to-cover ratio is presently 0.3 days. Approximately 0.7% of the shares of the company are short sold.

Analysts Set New Price Targets

SCWX has been the topic of a number of recent research reports. StockNews.com started coverage on SecureWorks in a research note on Thursday. They issued a “hold” rating on the stock. Barclays upped their price objective on SecureWorks from $6.00 to $7.00 and gave the stock an “underweight” rating in a research report on Friday, September 6th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of SecureWorks in a report on Tuesday, October 22nd.

SecureWorks Trading Down 0.1 %

SCWX stock opened at $8.45 on Monday. The company has a market cap of $750.60 million, a price-to-earnings ratio of -8.54 and a beta of 1.00. The firm has a 50-day moving average of $8.41 and a two-hundred day moving average of $7.80. SecureWorks has a 12 month low of $5.61 and a 12 month high of $9.76.

Institutional Investors Weigh In On SecureWorks

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SCWX. Marshall Wace LLP raised its position in SecureWorks by 11.6% in the 2nd quarter. Marshall Wace LLP now owns 49,997 shares of the technology company’s stock valued at $350,000 after purchasing an additional 5,205 shares in the last quarter. FMR LLC increased its stake in shares of SecureWorks by 22.3% during the third quarter. FMR LLC now owns 21,734 shares of the technology company’s stock worth $192,000 after buying an additional 3,964 shares during the period. Scalar Gauge Management LLC raised its holdings in SecureWorks by 18.8% in the second quarter. Scalar Gauge Management LLC now owns 316,137 shares of the technology company’s stock valued at $2,213,000 after acquiring an additional 50,000 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in SecureWorks by 4.9% in 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. Finally, Oppenheimer Asset Management Inc. grew its holdings in SecureWorks by 107.0% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 38,180 shares of the technology company’s stock worth $267,000 after acquiring an additional 19,735 shares in the last quarter. 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.