SecureWorks (NASDAQ:SCWX) Coverage Initiated at StockNews.com

Equities research analysts at StockNews.com began coverage on shares of SecureWorks (NASDAQ:SCWX) in a note issued to investors on Thursday. The firm set a “hold” rating on the technology company’s stock.

SecureWorks Price Performance

Shares of SCWX opened at $8.51 on Thursday. SecureWorks has a 1-year low of $5.61 and a 1-year high of $9.76. The stock has a market cap of $755.94 million, a price-to-earnings ratio of -8.60 and a beta of 0.94. The firm has a 50 day simple moving average of $8.47 and a 200-day simple moving average of $8.18.

SecureWorks (NASDAQ:SCWX) last announced its earnings results on Wednesday, December 4th. The technology company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.03). SecureWorks had a negative net margin of 25.49% and a negative return on equity of 5.71%. On average, equities analysts expect that SecureWorks will post -0.29 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Kovack Advisors Inc. grew its holdings in shares of SecureWorks by 12.7% during the third quarter. Kovack Advisors Inc. now owns 327,516 shares of the technology company’s stock worth $2,899,000 after buying an additional 36,816 shares in the last quarter. Brooktree Capital Management boosted its position in SecureWorks by 9.9% during the third quarter. Brooktree Capital Management now owns 174,191 shares of the technology company’s stock worth $1,542,000 after acquiring an additional 15,680 shares during the last quarter. Royce & Associates LP grew its stake in SecureWorks by 2.5% in the 3rd quarter. Royce & Associates LP now owns 1,324,543 shares of the technology company’s stock worth $11,722,000 after acquiring an additional 32,929 shares during the period. Gladius Capital Management LP acquired a new position in SecureWorks in the 3rd quarter valued at $463,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of SecureWorks by 37.4% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 62,754 shares of the technology company’s stock worth $555,000 after purchasing an additional 17,077 shares during the period. 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.