SecureWorks (NASDAQ:SCWX) Sees Strong Trading Volume

Shares of SecureWorks Corp. (NASDAQ:SCWX) saw an uptick in trading volume on Tuesday . 78,167 shares were traded during trading, an increase of 148% from the previous session’s volume of 31,542 shares.The stock last traded at $5.92 and had previously closed at $5.61.

SecureWorks Trading Up 2.7 %

The firm has a 50-day simple moving average of $6.38 and a 200 day simple moving average of $6.38.

SecureWorks (NASDAQ:SCWX) last posted its quarterly earnings data on Thursday, March 14th. The technology company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.15) by $0.13. SecureWorks had a negative net margin of 23.52% and a negative return on equity of 9.56%. As a group, equities research analysts forecast that SecureWorks Corp. will post -0.25 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Neil Gagnon bought 5,731 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The shares were purchased at an average price of $6.72 per share, with a total value of $38,512.32. Following the completion of the acquisition, the insider now directly owns 597,149 shares in the company, valued at $4,012,841.28. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders purchased 10,786 shares of company stock valued at $72,886. Corporate insiders own 83.10% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in SCWX. First Eagle Investment Management LLC lifted its stake in shares of SecureWorks by 4.2% during the 4th quarter. First Eagle Investment Management LLC now owns 878,177 shares of the technology company’s stock valued at $6,481,000 after buying an additional 35,044 shares in the last quarter. Cove Street Capital LLC increased its position in shares of SecureWorks by 16.9% during the third quarter. Cove Street Capital LLC now owns 667,567 shares of the technology company’s stock valued at $3,979,000 after acquiring an additional 96,394 shares during the last quarter. Horrell Capital Management Inc. increased its stake in SecureWorks by 44.6% in the 3rd quarter. Horrell Capital Management Inc. now owns 615,554 shares of the technology company’s stock valued at $3,823,000 after buying an additional 190,000 shares during the period. Scalar Gauge Management LLC purchased a new position in shares of SecureWorks during the 4th quarter worth about $1,816,000. Finally, Palogic Value Management L.P. boosted its holdings in SecureWorks by 2.7% in the fourth quarter. Palogic Value Management L.P. now owns 243,000 shares of the technology company’s stock worth $1,793,000 after purchasing an additional 6,497 shares during the period. 14.38% of the stock is owned by institutional investors.

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.