SecureWorks (NASDAQ:SCWX) Sees Unusually-High Trading Volume – Time to Buy?

Shares of SecureWorks Corp. (NASDAQ:SCWX) saw unusually-high trading volume on Friday . Approximately 149,248 shares were traded during mid-day trading, an increase of 72% from the previous session’s volume of 86,568 shares.The stock last traded at $8.37 and had previously closed at $8.36.

Analyst Upgrades and Downgrades

Several brokerages recently commented on SCWX. Needham & Company LLC reaffirmed a “hold” rating on shares of SecureWorks in a report on Tuesday, October 22nd. StockNews.com initiated coverage on SecureWorks in a research report on Saturday, November 16th. They issued a “hold” rating on the stock. Finally, Barclays lifted their price target on SecureWorks from $6.00 to $7.00 and gave the stock an “underweight” rating in a report on Friday, September 6th.

SecureWorks Trading Up 0.1 %

The stock’s 50-day simple moving average is $8.18 and its 200-day simple moving average is $7.37. The stock has a market cap of $743.49 million, a price-to-earnings ratio of -9.85 and a beta of 1.00.

SecureWorks (NASDAQ:SCWX) last posted its quarterly earnings data on Thursday, September 5th. The technology company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.05). The company had revenue of $82.18 million for the quarter, compared to the consensus estimate of $80.98 million. SecureWorks had a negative return on equity of 4.94% and a negative net margin of 21.23%. On average, equities research analysts forecast that SecureWorks Corp. will post -0.29 earnings per share for the current year.

Hedge Funds Weigh In On SecureWorks

Several hedge funds and other institutional investors have recently made changes to their positions in SCWX. Squarepoint Ops LLC bought a new position in SecureWorks in the second quarter valued at approximately $121,000. Jaffetilchin Investment Partners LLC bought a new position in shares of SecureWorks in the 2nd quarter valued at $127,000. FMR LLC raised its holdings in shares of SecureWorks by 22.3% during the 3rd quarter. FMR LLC now owns 21,734 shares of the technology company’s stock worth $192,000 after buying an additional 3,964 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its stake in SecureWorks by 107.0% in the second quarter. Oppenheimer Asset Management Inc. now owns 38,180 shares of the technology company’s stock valued at $267,000 after buying an additional 19,735 shares in the last quarter. Finally, Marshall Wace LLP grew its position in SecureWorks by 11.6% in the second quarter. Marshall Wace LLP now owns 49,997 shares of the technology company’s stock valued at $350,000 after acquiring an additional 5,205 shares during the last quarter. 14.38% of the stock is currently 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.