SecureWorks (NASDAQ:SCWX) Shares Gap Up – Here’s What Happened

SecureWorks Corp. (NASDAQ:SCWX) shares gapped up prior to trading on Thursday . The stock had previously closed at $7.83, but opened at $8.07. SecureWorks shares last traded at $8.07, with a volume of 1,352 shares traded.

Analyst Upgrades and Downgrades

SCWX has been the topic of a number of recent research reports. Barclays increased their target price on SecureWorks from $6.00 to $7.00 and gave the stock 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 report on Friday, September 6th.

SecureWorks Price Performance

The company has a market cap of $724.85 million, a PE ratio of -9.60 and a beta of 0.99. The company’s fifty day moving average is $7.73 and its 200-day moving average is $6.89.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of SCWX. Brooktree Capital Management raised its holdings in SecureWorks by 1.1% in 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 during the period. Marshall Wace LLP raised its stake 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. First Eagle Investment Management LLC lifted its position in shares of SecureWorks by 1.5% during the 1st 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 in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of SecureWorks by 4.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 351,763 shares of the technology company’s stock valued at $2,462,000 after buying an additional 16,327 shares in the last quarter. Finally, Squarepoint Ops LLC bought a new position in shares of SecureWorks during the 2nd quarter valued at approximately $121,000. Hedge funds and other institutional investors 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.