SecureWorks (NASDAQ:SCWX) Shares Down 7%

Shares of SecureWorks Corp. (NASDAQ:SCWX) were down 7% on Tuesday . The stock traded as low as $8.23 and last traded at $8.23. Approximately 2,454 shares changed hands during mid-day trading, a decline of 94% from the average daily volume of 42,762 shares. The stock had previously closed at $8.85.

Analyst Ratings Changes

SCWX has been the topic of a number of research analyst reports. Barclays raised their price objective on shares of SecureWorks from $6.00 to $7.00 and gave the company an “underweight” rating in a research note on Friday, September 6th. Needham & Company LLC reissued a “hold” rating on shares of SecureWorks in a research note on Friday, September 6th.

SecureWorks Stock Performance

The stock’s fifty day simple moving average is $7.66 and its two-hundred day simple moving average is $6.82. The company has a market capitalization of $722.19 million, a price-to-earnings ratio of -7.67 and a beta of 0.99.

SecureWorks (NASDAQ:SCWX) last issued its earnings results on Thursday, September 5th. The technology company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.05). The business had revenue of $82.18 million for the quarter, compared to the consensus estimate of $80.98 million. SecureWorks had a negative return on equity of 4.94% and a negative net margin of 21.23%. On average, equities analysts anticipate that SecureWorks Corp. will post -0.25 EPS for the current fiscal year.

Hedge Funds Weigh In On SecureWorks

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Brooktree Capital Management grew its position in SecureWorks by 1.1% during the 1st quarter. Brooktree Capital Management now owns 163,910 shares of the technology company’s stock worth $1,101,000 after purchasing an additional 1,775 shares in the last quarter. Marshall Wace LLP boosted its position in shares of SecureWorks by 11.6% in the second quarter. Marshall Wace LLP now owns 49,997 shares of the technology company’s stock worth $350,000 after buying an additional 5,205 shares during the period. Palogic Value Management L.P. grew its holdings in shares of SecureWorks by 2.7% during the fourth quarter. Palogic Value Management L.P. now owns 243,000 shares of the technology company’s stock valued at $1,793,000 after buying an additional 6,497 shares in the last quarter. First Eagle Investment Management LLC raised its position in SecureWorks by 1.5% during 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 buying an additional 13,551 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in SecureWorks by 4.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 351,763 shares of the technology company’s stock worth $2,462,000 after acquiring an additional 16,327 shares in the last quarter. 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.