SecureWorks (NASDAQ:SCWX) Sees Unusually-High Trading Volume – Should You Buy?

SecureWorks Corp. (NASDAQ:SCWX) shares saw unusually-high trading volume on Friday . Approximately 73,796 shares were traded during trading, a decline of 24% from the previous session’s volume of 97,479 shares.The stock last traded at $8.45 and had previously closed at $8.38.

Wall Street Analyst Weigh In

SCWX has been the subject of a number of research reports. Barclays lifted their price objective on SecureWorks from $6.00 to $7.00 and gave the company an “underweight” rating in a research report on Friday, September 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of SecureWorks in a research report on Tuesday, October 22nd. Finally, StockNews.com initiated coverage on SecureWorks in a research report on Sunday, November 24th. They issued a “hold” rating for the company.

SecureWorks Trading Up 0.7 %

The firm has a market cap of $749.73 million, a price-to-earnings ratio of -9.93 and a beta of 1.00. The firm has a 50-day moving average of $8.23 and a two-hundred day moving average of $7.44.

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

Hedge Funds Weigh In On SecureWorks

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Squarepoint Ops LLC bought a new position in SecureWorks during the second quarter valued at about $121,000. Jaffetilchin Investment Partners LLC bought a new position in SecureWorks during the second quarter valued at about $127,000. FMR LLC grew its stake in shares of SecureWorks by 22.3% in the 3rd quarter. FMR LLC now owns 21,734 shares of the technology company’s stock valued at $192,000 after purchasing an additional 3,964 shares during the period. Oppenheimer Asset Management Inc. grew its stake in shares of SecureWorks by 107.0% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 38,180 shares of the technology company’s stock valued at $267,000 after purchasing an additional 19,735 shares during the period. Finally, State Street Corp grew its stake in shares of SecureWorks by 5.5% in the 3rd quarter. State Street Corp now owns 44,227 shares of the technology company’s stock valued at $391,000 after purchasing an additional 2,300 shares during the period. 14.38% of the stock is currently owned by 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.