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

StockNews.com started coverage on shares of SecureWorks (NASDAQ:SCWX) in a report issued on Tuesday morning. The firm issued a hold rating on the technology company’s stock.

SecureWorks Price Performance

Shares of NASDAQ:SCWX opened at $8.51 on Tuesday. The company has a 50-day moving average price of $8.50 and a 200 day moving average price of $8.38. SecureWorks has a 52 week low of $5.61 and a 52 week high of $9.76. The company has a market cap of $755.94 million, a P/E ratio of -8.60 and a beta of 0.94.

Institutional Investors Weigh In On SecureWorks

A number of hedge funds and other institutional investors have recently bought and sold shares of SCWX. Gardner Lewis Asset Management L P acquired a new stake in shares of SecureWorks in the fourth quarter valued at about $10,795,000. FIL Ltd purchased a new stake in shares of SecureWorks during the 4th quarter worth approximately $6,392,000. Alpine Associates Management Inc. acquired a new stake in shares of SecureWorks in the 4th quarter worth approximately $5,273,000. Alberta Investment Management Corp purchased a new position in SecureWorks in the 4th quarter valued at approximately $5,076,000. Finally, Nexpoint Asset Management L.P. acquired a new position in SecureWorks during the fourth quarter worth $4,395,000. 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.