SecureWorks (NASDAQ:SCWX) Coverage Initiated at StockNews.com

StockNews.com began coverage on shares of SecureWorks (NASDAQ:SCWX) in a research note issued to investors on Thursday morning. The firm issued a hold rating on the technology company’s stock.

A number of other equities analysts have also issued reports on the stock. Needham & Company LLC restated a “hold” rating on shares of SecureWorks in a research report on Tuesday, October 22nd. Barclays raised their price objective on shares of SecureWorks from $6.00 to $7.00 and gave the stock an “underweight” rating in a research report on Friday, September 6th.

SecureWorks Stock Down 0.1 %

Shares of NASDAQ SCWX opened at $8.45 on Thursday. The stock has a market cap of $750.60 million, a PE ratio of -8.54 and a beta of 1.00. SecureWorks has a 52-week low of $5.61 and a 52-week high of $9.76. The business has a 50-day moving average price of $8.41 and a 200 day moving average price of $7.79.

Institutional Trading of SecureWorks

A number of hedge funds have recently added to or reduced their stakes in SCWX. King Luther Capital Management Corp acquired a new position in shares of SecureWorks in the second quarter valued at approximately $411,000. Gladius Capital Management LP acquired a new position in SecureWorks in the 3rd quarter valued at $463,000. Scalar Gauge Management LLC raised its position in SecureWorks by 16.4% during the 3rd quarter. Scalar Gauge Management LLC now owns 368,006 shares of the technology company’s stock worth $3,257,000 after buying an additional 51,869 shares during the last quarter. Inspire Investing LLC acquired a new stake in shares of SecureWorks in the 3rd quarter worth $449,000. Finally, Brown Brothers Harriman & Co. acquired a new stake in shares of SecureWorks in the 3rd quarter worth $442,000. 14.38% of the stock is owned by institutional investors and hedge funds.

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.