SecureWorks (NASDAQ:SCWX) Stock Price Down 4.9%

SecureWorks Corp. (NASDAQ:SCWX) traded down 4.9% on Friday . The stock traded as low as $6.94 and last traded at $6.94. 14,954 shares changed hands during trading, a decline of 61% from the average session volume of 37,872 shares. The stock had previously closed at $7.30.

Wall Street Analysts Forecast Growth

Separately, Needham & Company LLC restated a “hold” rating on shares of SecureWorks in a research note on Thursday, June 6th.

SecureWorks Price Performance

The firm’s fifty day moving average price is $6.26 and its 200-day moving average price is $6.49. The company has a market capitalization of $613.52 million, a price-to-earnings ratio of -6.89 and a beta of 0.97.

SecureWorks (NASDAQ:SCWX) last announced its quarterly earnings results on Thursday, June 6th. The technology company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.01. The company had revenue of $85.65 million during the quarter, compared to the consensus estimate of $83.95 million. SecureWorks had a negative net margin of 25.52% and a negative return on equity of 6.01%. On average, research analysts predict that SecureWorks Corp. will post -0.24 earnings per share for the current year.

Insider Transactions at SecureWorks

In related news, major shareholder Neil Gagnon purchased 13,798 shares of the stock in a transaction dated Tuesday, April 23rd. The stock was bought at an average cost of $5.99 per share, for a total transaction of $82,650.02. Following the completion of the acquisition, the insider now owns 610,947 shares of the company’s stock, valued at $3,659,572.53. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 81.50% of the company’s stock.

Institutional Trading of SecureWorks

Institutional investors and hedge funds have recently bought and sold shares of the stock. Scalar Gauge Management LLC acquired a new stake in SecureWorks in the fourth quarter valued at $1,816,000. Citigroup Inc. grew its holdings in SecureWorks by 95.3% during the 3rd quarter. Citigroup Inc. now owns 9,700 shares of the technology company’s stock worth $60,000 after acquiring an additional 4,734 shares during the period. Quadrature Capital Ltd grew its holdings in SecureWorks by 56.6% during the 3rd quarter. Quadrature Capital Ltd now owns 25,377 shares of the technology company’s stock worth $158,000 after acquiring an additional 9,175 shares during the period. First Eagle Investment Management LLC grew its holdings in SecureWorks by 4.2% during the 4th quarter. First Eagle Investment Management LLC now owns 878,177 shares of the technology company’s stock worth $6,481,000 after acquiring an additional 35,044 shares during the period. Finally, Kovack Advisors Inc. grew its holdings in SecureWorks by 114.6% during the 4th quarter. Kovack Advisors Inc. now owns 133,500 shares of the technology company’s stock worth $985,000 after acquiring an additional 71,300 shares during the period. 14.38% of the stock is currently owned by institutional investors and hedge funds.

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.