SecureWorks (NASDAQ:SCWX) Stock Price Down 7%

SecureWorks Corp. (NASDAQ:SCWX) shares dropped 7% during mid-day trading on Tuesday . The stock traded as low as $8.23 and last traded at $8.23. Approximately 2,454 shares were traded during trading, a decline of 94% from the average daily volume of 42,762 shares. The stock had previously closed at $8.85.

Analyst Ratings Changes

SCWX has been the subject of a number of analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of SecureWorks in a research note on Friday, September 6th. Barclays upped their price target on shares of SecureWorks from $6.00 to $7.00 and gave the stock an “underweight” rating in a report on Friday, September 6th.

SecureWorks Trading Down 6.6 %

The company has a market cap of $731.09 million, a P/E ratio of -8.35 and a beta of 0.99. The company has a 50 day moving average price of $7.64 and a 200-day moving average price of $6.80.

SecureWorks (NASDAQ:SCWX) last issued 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). The business had revenue of $82.18 million for the quarter, compared to analyst estimates of $80.98 million. SecureWorks had a negative return on equity of 4.94% and a negative net margin of 21.23%. Equities analysts expect that SecureWorks Corp. will post -0.25 earnings per share for the current year.

Institutional Trading of SecureWorks

A number of hedge funds and other institutional investors have recently modified their holdings of SCWX. Brooktree Capital Management lifted its holdings in shares of SecureWorks by 1.1% during the first quarter. Brooktree Capital Management now owns 163,910 shares of the technology company’s stock worth $1,101,000 after purchasing an additional 1,775 shares during the period. Marshall Wace LLP raised its holdings in SecureWorks by 11.6% during the 2nd quarter. Marshall Wace LLP now owns 49,997 shares of the technology company’s stock worth $350,000 after purchasing an additional 5,205 shares during the last quarter. Palogic Value Management L.P. lifted its position in shares of SecureWorks by 2.7% in the 4th quarter. Palogic Value Management L.P. now owns 243,000 shares of the technology company’s stock worth $1,793,000 after purchasing an additional 6,497 shares during the period. First Eagle Investment Management LLC boosted its stake in shares of SecureWorks by 1.5% in the 1st quarter. First Eagle Investment Management LLC now owns 891,728 shares of the technology company’s stock valued at $5,992,000 after purchasing an additional 13,551 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in SecureWorks by 4.9% during the second quarter. Dimensional Fund Advisors LP now owns 351,763 shares of the technology company’s stock valued at $2,462,000 after acquiring an additional 16,327 shares during the last quarter. Institutional investors own 14.38% of the company’s stock.

SecureWorks Company Profile

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.