SecureWorks (NASDAQ:SCWX) Sees Unusually-High Trading Volume – Here’s Why

SecureWorks Corp. (NASDAQ:SCWX) saw an uptick in trading volume on Friday . 59,843 shares changed hands during trading, a decline of 21% from the previous session’s volume of 75,958 shares.The stock last traded at $8.37 and had previously closed at $8.37.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on SCWX shares. StockNews.com assumed coverage on shares of SecureWorks in a research report on Friday, November 8th. They set a “hold” rating for the company. Needham & Company LLC reiterated a “hold” rating on shares of SecureWorks in a report on Tuesday, October 22nd. Finally, Barclays boosted their target price on SecureWorks from $6.00 to $7.00 and gave the company an “underweight” rating in a research report on Friday, September 6th.

SecureWorks Price Performance

The firm has a 50-day simple moving average of $8.13 and a two-hundred day simple moving average of $7.28.

SecureWorks (NASDAQ:SCWX) last posted its quarterly earnings results on Thursday, September 5th. The technology company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.05). SecureWorks had a negative net margin of 21.23% and a negative return on equity of 4.94%. The company had revenue of $82.18 million during the quarter, compared to analyst estimates of $80.98 million. Equities research analysts anticipate that SecureWorks Corp. will post -0.29 earnings per share for the current year.

Institutional Investors Weigh In On SecureWorks

Several institutional investors have recently modified their holdings of SCWX. FMR LLC lifted its holdings in SecureWorks by 22.3% during the 3rd quarter. FMR LLC now owns 21,734 shares of the technology company’s stock worth $192,000 after buying an additional 3,964 shares during the last quarter. Marshall Wace LLP lifted its stake in SecureWorks by 11.6% during the second 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. Atom Investors LP lifted its stake in SecureWorks by 14.6% during the third quarter. Atom Investors LP now owns 85,186 shares of the technology company’s stock worth $754,000 after purchasing an additional 10,823 shares during the last quarter. First Eagle Investment Management LLC boosted its holdings in SecureWorks by 1.5% in the first 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 in the last quarter. Finally, Brooktree Capital Management increased its stake in SecureWorks by 9.9% in the third quarter. Brooktree Capital Management now owns 174,191 shares of the technology company’s stock valued at $1,542,000 after purchasing an additional 15,680 shares during the last quarter. 14.38% of the stock is owned by hedge funds and other institutional investors.

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.