StockNews.com Initiates Coverage on SecureWorks (NASDAQ:SCWX)

Research analysts at StockNews.com assumed coverage on shares of SecureWorks (NASDAQ:SCWX) in a report released on Monday. The firm set a “hold” rating on the technology company’s stock.

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

SecureWorks Trading Up 0.1 %

NASDAQ:SCWX opened at $8.49 on Monday. The firm has a fifty day simple moving average of $8.44 and a two-hundred day simple moving average of $8.07. SecureWorks has a 12 month low of $5.61 and a 12 month high of $9.76. The stock has a market capitalization of $754.17 million, a price-to-earnings ratio of -8.58 and a beta of 0.94.

SecureWorks (NASDAQ:SCWX) last issued its earnings results 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 net margin of 25.49% and a negative return on equity of 5.71%. Equities analysts predict that SecureWorks will post -0.29 earnings per share for the current fiscal year.

Hedge Funds Weigh In On SecureWorks

Hedge funds have recently added to or reduced their stakes in the stock. Squarepoint Ops LLC purchased a new position in shares of SecureWorks during the second quarter valued at approximately $121,000. Y.D. More Investments Ltd boosted its holdings in SecureWorks by 7.9% during the 4th quarter. Y.D. More Investments Ltd now owns 20,465 shares of the technology company’s stock worth $173,000 after acquiring an additional 1,501 shares during the last quarter. FMR LLC grew its stake in shares of SecureWorks by 22.3% in 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 in the last quarter. Empowered Funds LLC purchased a new stake in shares of SecureWorks in the fourth quarter valued at about $317,000. Finally, State Street Corp lifted its position in shares of SecureWorks by 5.5% during the third quarter. State Street Corp now owns 44,227 shares of the technology company’s stock valued at $391,000 after purchasing an additional 2,300 shares in the last quarter. 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.