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

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

SCWX has been the topic of several other research reports. Needham & Company LLC reaffirmed a “hold” rating on shares of SecureWorks in a report on Tuesday, October 22nd. Barclays raised their price target on SecureWorks from $6.00 to $7.00 and gave the stock an “underweight” rating in a research note on Friday, September 6th.

SecureWorks Price Performance

NASDAQ SCWX opened at $8.45 on Wednesday. The firm’s fifty day moving average price is $8.38 and its 200 day moving average price is $7.69. SecureWorks has a 12 month low of $5.61 and a 12 month high of $9.76. The company has a market capitalization of $750.60 million, a price-to-earnings ratio of -8.54 and a beta of 1.00.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. King Luther Capital Management Corp acquired a new stake in SecureWorks during the 2nd quarter worth approximately $411,000. Gladius Capital Management LP acquired a new position in SecureWorks in the 3rd quarter valued at $463,000. Scalar Gauge Management LLC raised its position in SecureWorks by 16.4% during the 3rd quarter. Scalar Gauge Management LLC now owns 368,006 shares of the technology company’s stock worth $3,257,000 after buying an additional 51,869 shares during the last quarter. Inspire Investing LLC acquired a new stake in shares of SecureWorks in the 3rd quarter worth $449,000. Finally, Brown Brothers Harriman & Co. purchased a new stake in shares of SecureWorks in the third quarter valued at about $442,000. 14.38% of the stock is currently owned by institutional investors and hedge funds.

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.