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

StockNews.com started coverage on shares of SecureWorks (NASDAQ:SCWX) in a report issued on Tuesday. The firm issued 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 SCWX opened at $8.50 on Tuesday. SecureWorks has a fifty-two week low of $5.61 and a fifty-two week high of $9.76. The firm’s 50-day simple moving average is $8.45 and its two-hundred day simple moving average is $8.11. The stock has a market cap of $755.06 million, a PE ratio of -8.59 and a beta of 0.94.

SecureWorks (NASDAQ:SCWX) last posted its quarterly earnings results on Wednesday, December 4th. The technology company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.03). SecureWorks had a negative return on equity of 5.71% and a negative net margin of 25.49%. Equities research analysts predict that SecureWorks will post -0.29 EPS for the current year.

Hedge Funds Weigh In On SecureWorks

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Alberta Investment Management Corp bought a new stake in shares of SecureWorks in the 4th quarter worth $5,076,000. Wolverine Asset Management LLC purchased a new position in SecureWorks in the 4th quarter worth about $680,000. ABC Arbitrage SA purchased a new position in SecureWorks in the 4th quarter worth about $535,000. Gladius Capital Management LP purchased a new stake in shares of SecureWorks during the 3rd quarter valued at about $463,000. Finally, Scalar Gauge Management LLC grew its stake in shares of SecureWorks by 16.4% in the third quarter. Scalar Gauge Management LLC now owns 368,006 shares of the technology company’s stock worth $3,257,000 after acquiring an additional 51,869 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.