SecureWorks (NASDAQ:SCWX) Coverage Initiated by Analysts at StockNews.com

StockNews.com began coverage on shares of SecureWorks (NASDAQ:SCWX) in a research note released on Tuesday morning. The brokerage issued a hold rating on the technology company’s stock.

Separately, Needham & Company LLC restated a “hold” rating on shares of SecureWorks in a research note on Tuesday, October 22nd.

SecureWorks Stock Performance

SCWX opened at $8.51 on Tuesday. SecureWorks has a 12-month low of $5.61 and a 12-month high of $9.76. The business’s fifty day simple moving average is $8.46 and its 200-day simple moving average is $8.11. The company has a market capitalization of $755.94 million, a price-to-earnings ratio of -8.60 and a beta of 0.94.

SecureWorks (NASDAQ:SCWX) last posted its quarterly earnings results on Wednesday, December 4th. The technology company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.03). SecureWorks had a negative return on equity of 5.71% and a negative net margin of 25.49%. On average, equities research analysts predict that SecureWorks will post -0.29 EPS for the current year.

Institutional Investors Weigh In On SecureWorks

A number of hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP raised its stake in SecureWorks by 4.9% in the second quarter. Dimensional Fund Advisors LP now owns 351,763 shares of the technology company’s stock valued at $2,462,000 after buying an additional 16,327 shares during the last quarter. Marshall Wace LLP raised its stake in SecureWorks by 11.6% in the second quarter. Marshall Wace LLP now owns 49,997 shares of the technology company’s stock valued at $350,000 after buying an additional 5,205 shares during the last quarter. Squarepoint Ops LLC purchased a new stake in SecureWorks in the second quarter valued at about $121,000. Inspire Investing LLC purchased a new stake in SecureWorks in the third quarter valued at about $449,000. Finally, Kovack Advisors Inc. raised its stake in SecureWorks by 12.7% in the third quarter. Kovack Advisors Inc. now owns 327,516 shares of the technology company’s stock valued at $2,899,000 after buying an additional 36,816 shares during the last quarter. 14.38% of the stock is currently owned by hedge funds and other institutional investors.

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.