SecureWorks Corp. (NASDAQ:SCWX) Sees Significant Decline in Short Interest

SecureWorks Corp. (NASDAQ:SCWX) was the recipient of a significant decrease in short interest during the month of October. As of October 31st, there was short interest totalling 83,200 shares, a decrease of 33.4% from the October 15th total of 124,900 shares. Currently, 0.8% of the company’s stock are short sold. Based on an average daily volume of 165,000 shares, the days-to-cover ratio is presently 0.5 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SCWX. Squarepoint Ops LLC purchased a new position in SecureWorks in the second quarter valued at approximately $121,000. Jaffetilchin Investment Partners LLC purchased a new position in shares of SecureWorks during the 2nd quarter valued at $127,000. FMR LLC grew its stake 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 acquiring an additional 3,964 shares during the period. Oppenheimer Asset Management Inc. increased its holdings in SecureWorks by 107.0% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 38,180 shares of the technology company’s stock worth $267,000 after acquiring an additional 19,735 shares during the last quarter. Finally, State Street Corp raised its stake in SecureWorks by 5.5% in the 3rd quarter. State Street Corp now owns 44,227 shares of the technology company’s stock valued at $391,000 after acquiring an additional 2,300 shares during the period. 14.38% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on SCWX shares. StockNews.com started coverage on SecureWorks in a research report on Saturday. They set a “hold” rating on the stock. Barclays lifted their price objective on shares of SecureWorks from $6.00 to $7.00 and gave the stock an “underweight” rating in a report on Friday, September 6th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of SecureWorks in a report on Tuesday, October 22nd.

SecureWorks Stock Performance

Shares of SCWX stock remained flat at $8.37 during trading on Friday. The stock had a trading volume of 121,363 shares, compared to its average volume of 76,235. The company has a market cap of $743.51 million, a P/E ratio of -9.85 and a beta of 1.00. The business’s 50 day moving average is $8.14 and its two-hundred day moving average is $7.30. SecureWorks has a 52 week low of $5.61 and a 52 week high of $9.76.

SecureWorks (NASDAQ:SCWX) last announced its quarterly earnings data 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 business had revenue of $82.18 million during the quarter, compared to the consensus estimate of $80.98 million. SecureWorks had a negative net margin of 21.23% and a negative return on equity of 4.94%. On average, sell-side analysts expect that SecureWorks will post -0.29 EPS for the current fiscal year.

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.