SecureWorks (NASDAQ:SCWX) Sees Strong Trading Volume – What’s Next?

SecureWorks Corp. (NASDAQ:SCWX) saw unusually-strong trading volume on Friday . Approximately 142,907 shares changed hands during trading, a decline of 14% from the previous session’s volume of 166,466 shares.The stock last traded at $8.44 and had previously closed at $8.44.

Analysts Set New Price Targets

Several research firms recently commented on SCWX. Needham & Company LLC reissued a “hold” rating on shares of SecureWorks in a research report on Tuesday, October 22nd. StockNews.com initiated coverage on shares of SecureWorks in a research report on Friday. They set a “hold” rating on the stock.

SecureWorks Price Performance

The company has a market capitalization of $749.71 million, a price-to-earnings ratio of -8.53 and a beta of 0.94. The firm has a 50 day moving average price of $8.42 and a two-hundred day moving average price of $7.85.

Institutional Investors Weigh In On SecureWorks

Several hedge funds and other institutional investors have recently bought and sold shares of SCWX. King Luther Capital Management Corp purchased a new position in shares of SecureWorks during the 2nd quarter valued at approximately $411,000. Gladius Capital Management LP bought a new position in SecureWorks during the 3rd quarter valued at $463,000. Scalar Gauge Management LLC boosted its stake in SecureWorks by 16.4% during the 3rd quarter. Scalar Gauge Management LLC now owns 368,006 shares of the technology company’s stock valued at $3,257,000 after acquiring an additional 51,869 shares during the last quarter. Inspire Investing LLC acquired a new position in SecureWorks during the 3rd quarter worth $449,000. Finally, Brown Brothers Harriman & Co. bought a new stake in shares of SecureWorks in the 3rd quarter worth about $442,000. 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.