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 changed hands during 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.

Analyst Ratings Changes

SCWX has been the topic of several research analyst reports. StockNews.com assumed coverage on SecureWorks in a report on Monday. They issued a “hold” rating on the stock. Needham & Company LLC restated a “hold” rating on shares of SecureWorks in a report on Tuesday, October 22nd.

SecureWorks Stock Up 0.1 %

The stock has a fifty day moving average of $8.44 and a 200-day moving average of $8.07. The stock has a market capitalization of $754.17 million, a PE ratio of -8.58 and a beta of 0.94.

SecureWorks (NASDAQ:SCWX) last announced its quarterly earnings data on Wednesday, December 4th. The technology company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.03). SecureWorks had a negative return on equity of 5.71% and a negative net margin of 25.49%. Equities research analysts expect that SecureWorks Corp. will post -0.29 EPS for the current year.

Hedge Funds Weigh In On SecureWorks

A number of institutional investors and hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its holdings in SecureWorks by 4.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 351,763 shares of the technology company’s stock worth $2,462,000 after buying an additional 16,327 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of SecureWorks by 22.3% during the 2nd quarter. Renaissance Technologies LLC now owns 181,540 shares of the technology company’s stock worth $1,271,000 after acquiring an additional 33,100 shares in the last quarter. Marshall Wace LLP lifted its stake in SecureWorks by 11.6% during the second quarter. Marshall Wace LLP now owns 49,997 shares of the technology company’s stock worth $350,000 after purchasing an additional 5,205 shares during the last quarter. Squarepoint Ops LLC acquired a new position in SecureWorks in the second quarter valued at approximately $121,000. Finally, Inspire Investing LLC acquired a new stake in SecureWorks during the third quarter worth approximately $449,000. Institutional investors and hedge funds own 14.38% of the company’s stock.

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.