SecureWorks (NASDAQ:SCWX) Stock Price Up 3%

SecureWorks Corp. (NASDAQ:SCWX)’s share price was up 3% during trading on Thursday . The company traded as high as $8.37 and last traded at $8.37. Approximately 870 shares were traded during mid-day trading, a decline of 98% from the average daily volume of 42,573 shares. The stock had previously closed at $8.13.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Barclays increased 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. Needham & Company LLC reissued a “hold” rating on shares of SecureWorks in a research report on Friday, September 6th.

SecureWorks Trading Up 1.4 %

The firm has a 50-day simple moving average of $7.66 and a 200-day simple moving average of $6.82. The firm has a market cap of $731.96 million, a P/E ratio of -7.67 and a beta of 0.99.

SecureWorks (NASDAQ:SCWX) last posted its earnings results on Thursday, September 5th. The technology company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.05). The firm had revenue of $82.18 million for the quarter, compared to analysts’ expectations of $80.98 million. SecureWorks had a negative return on equity of 4.94% and a negative net margin of 21.23%. Research analysts predict that SecureWorks Corp. will post -0.25 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Scalar Gauge Management LLC purchased a new stake in SecureWorks during the 4th quarter worth $1,816,000. Kovack Advisors Inc. lifted its position in shares of SecureWorks by 55.4% during the 1st quarter. Kovack Advisors Inc. now owns 207,400 shares of the technology company’s stock valued at $1,394,000 after acquiring an additional 73,900 shares during the last quarter. King Luther Capital Management Corp acquired a new stake in shares of SecureWorks during the 2nd quarter valued at $411,000. Renaissance Technologies LLC lifted its position in SecureWorks by 22.3% in the 2nd quarter. Renaissance Technologies LLC now owns 181,540 shares of the technology company’s stock worth $1,271,000 after buying an additional 33,100 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its holdings in SecureWorks by 107.0% in the second quarter. Oppenheimer Asset Management Inc. now owns 38,180 shares of the technology company’s stock worth $267,000 after purchasing 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.