SecureWorks (NASDAQ:SCWX) Sees Strong Trading Volume – Time to Buy?

SecureWorks Corp. (NASDAQ:SCWX) saw an uptick in trading volume on Tuesday . 565,770 shares traded hands during mid-day trading, an increase of 188% from the previous session’s volume of 196,739 shares.The stock last traded at $8.50 and had previously closed at $8.48.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on SCWX. Needham & Company LLC reaffirmed a “hold” rating on shares of SecureWorks in a research note on Tuesday, October 22nd. StockNews.com initiated coverage on SecureWorks in a research report on Monday. They set a “hold” rating on the stock.

SecureWorks Price Performance

The firm has a market cap of $754.17 million, a P/E ratio of -8.58 and a beta of 0.94. The business has a fifty day simple moving average of $8.44 and a 200-day simple moving average of $8.07.

SecureWorks (NASDAQ:SCWX) last issued its quarterly earnings results on Wednesday, December 4th. The technology company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.03). SecureWorks had a negative return on equity of 5.71% and a negative net margin of 25.49%. On average, sell-side analysts anticipate that SecureWorks Corp. will post -0.29 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC grew its holdings in shares of SecureWorks by 14.1% during the third quarter. Geode Capital Management LLC now owns 160,430 shares of the technology company’s stock valued at $1,420,000 after buying an additional 19,766 shares during the last quarter. State Street Corp lifted its position in 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 acquiring an additional 2,300 shares in the last quarter. Marshall Wace LLP boosted its stake in SecureWorks by 11.6% during the 2nd quarter. Marshall Wace LLP now owns 49,997 shares of the technology company’s stock valued at $350,000 after purchasing an additional 5,205 shares during the last quarter. FMR LLC increased its holdings in shares of SecureWorks by 22.3% in the 3rd quarter. FMR LLC now owns 21,734 shares of the technology company’s stock worth $192,000 after purchasing an additional 3,964 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of SecureWorks by 4.9% in the second quarter. Dimensional Fund Advisors LP now owns 351,763 shares of the technology company’s stock worth $2,462,000 after purchasing an additional 16,327 shares during the last quarter. 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.