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

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

Separately, Needham & Company LLC reissued a “hold” rating on shares of SecureWorks in a research report on Tuesday, October 22nd.

SecureWorks Price Performance

SecureWorks stock opened at $8.51 on Wednesday. SecureWorks has a twelve month low of $5.61 and a twelve month high of $9.76. The stock has a market cap of $755.94 million, a P/E ratio of -8.60 and a beta of 0.94. The company’s 50-day moving average price is $8.46 and its two-hundred day moving average price is $8.15.

SecureWorks (NASDAQ:SCWX) last announced its earnings results on Wednesday, December 4th. The technology company reported ($0.13) earnings per share 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 analysts anticipate that SecureWorks will post -0.29 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SecureWorks

Large investors have recently added to or reduced their stakes in the stock. Trexquant Investment LP acquired a new position in SecureWorks in the 4th quarter valued at $436,000. Geode Capital Management LLC raised its stake in SecureWorks by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 165,469 shares of the technology company’s stock valued at $1,401,000 after purchasing an additional 5,039 shares in the last quarter. Gardner Lewis Asset Management L P acquired a new position in SecureWorks in the fourth quarter valued at about $10,795,000. JPMorgan Chase & Co. lifted its position in SecureWorks by 845,578.6% during the fourth quarter. JPMorgan Chase & Co. now owns 118,395 shares of the technology company’s stock worth $1,002,000 after purchasing an additional 118,381 shares during the period. Finally, Mint Tower Capital Management B.V. acquired a new stake in SecureWorks during the fourth quarter worth about $617,000. 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.