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

Equities researchers at StockNews.com initiated coverage on shares of SecureWorks (NASDAQ:SCWX) in a research note issued to investors on Saturday. The brokerage set a “hold” rating on the technology company’s stock.

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

SecureWorks Stock Performance

Shares of NASDAQ SCWX opened at $8.43 on Friday. SecureWorks has a fifty-two week low of $5.61 and a fifty-two week high of $9.76. The company has a market cap of $748.82 million, a price-to-earnings ratio of -8.52 and a beta of 0.94. The business’s 50 day moving average price is $8.42 and its 200-day moving average price is $7.96.

Hedge Funds Weigh In On SecureWorks

A number of institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC boosted its holdings in shares of SecureWorks by 14.1% in the third quarter. Geode Capital Management LLC now owns 160,430 shares of the technology company’s stock valued at $1,420,000 after purchasing an additional 19,766 shares during the period. State Street Corp raised its position in SecureWorks by 5.5% during the 3rd 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. Atom Investors LP lifted its holdings in shares of SecureWorks by 14.6% in the 3rd quarter. Atom Investors LP now owns 85,186 shares of the technology company’s stock worth $754,000 after buying an additional 10,823 shares during the period. Scalar Gauge Management LLC grew its position in shares of SecureWorks by 16.4% during the 3rd quarter. Scalar Gauge Management LLC now owns 368,006 shares of the technology company’s stock worth $3,257,000 after buying an additional 51,869 shares in the last quarter. Finally, FMR LLC increased its stake in shares of SecureWorks by 22.3% during the third quarter. FMR LLC now owns 21,734 shares of the technology company’s stock valued at $192,000 after buying an additional 3,964 shares during the period. 14.38% of the stock is owned by hedge funds and other institutional investors.

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.