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

SecureWorks Corp. (NASDAQ:SCWX) shares saw unusually-strong trading volume on Friday . Approximately 73,796 shares changed hands during mid-day trading, a decline of 24% from the previous session’s volume of 97,479 shares.The stock last traded at $8.45 and had previously closed at $8.38.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on SCWX shares. Needham & Company LLC reiterated a “hold” rating on shares of SecureWorks in a research report on Tuesday, October 22nd. StockNews.com began coverage on SecureWorks in a report on Sunday, November 24th. They issued a “hold” rating on the stock. Finally, Barclays lifted their target price on SecureWorks from $6.00 to $7.00 and gave the company an “underweight” rating in a research note on Friday, September 6th.

SecureWorks Stock Performance

The stock has a 50 day moving average price of $8.23 and a 200 day moving average price of $7.44. The company has a market cap of $749.73 million, a P/E ratio of -9.93 and a beta of 1.00.

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

Hedge Funds Weigh In On SecureWorks

Hedge funds have recently modified their holdings of the stock. Marshall Wace LLP grew its holdings in shares of SecureWorks by 11.6% in the 2nd quarter. Marshall Wace LLP now owns 49,997 shares of the technology company’s stock worth $350,000 after acquiring an additional 5,205 shares during the last quarter. Scalar Gauge Management LLC grew its holdings in shares of SecureWorks by 18.8% during the second quarter. Scalar Gauge Management LLC now owns 316,137 shares of the technology company’s stock valued at $2,213,000 after buying an additional 50,000 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of SecureWorks by 4.9% during the second quarter. Dimensional Fund Advisors LP now owns 351,763 shares of the technology company’s stock valued at $2,462,000 after buying an additional 16,327 shares in the last quarter. Oppenheimer Asset Management Inc. grew its holdings in shares of SecureWorks by 107.0% during 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, Jaffetilchin Investment Partners LLC purchased a new position in shares of SecureWorks during the second quarter valued at $127,000. 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.