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

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

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

SecureWorks Stock Performance

Shares of SCWX opened at $8.51 on Wednesday. SecureWorks has a 12 month low of $5.61 and a 12 month high of $9.76. The firm has a fifty day simple moving average of $8.46 and a 200 day simple moving average of $8.15. The stock 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 announced its quarterly earnings results on Wednesday, December 4th. The technology company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.03). SecureWorks had a negative net margin of 25.49% and a negative return on equity of 5.71%. As a group, research analysts predict that SecureWorks will post -0.29 earnings per share for the current fiscal year.

Institutional Trading of SecureWorks

A number of hedge funds have recently modified their holdings of the stock. Gamco Investors INC. ET AL lifted its stake in shares of SecureWorks by 192.3% during the 4th quarter. Gamco Investors INC. ET AL now owns 60,800 shares of the technology company’s stock worth $514,000 after buying an additional 40,000 shares during the last quarter. Gabelli Funds LLC acquired a new stake in shares of SecureWorks during the 4th quarter worth about $2,571,000. Water Island Capital LLC acquired a new stake in shares of SecureWorks during the 4th quarter worth about $299,000. Renaissance Technologies LLC lifted its stake in shares of SecureWorks by 121.4% during the 4th quarter. Renaissance Technologies LLC now owns 388,240 shares of the technology company’s stock worth $3,285,000 after buying an additional 212,900 shares during the last quarter. Finally, FIL Ltd acquired a new stake in shares of SecureWorks during the 4th quarter worth about $6,392,000. Institutional investors and hedge funds 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.