Short Interest in SecureWorks Corp. (NASDAQ:SCWX) Decreases By 15.5%

SecureWorks Corp. (NASDAQ:SCWX) was the recipient of a significant drop in short interest in the month of December. As of December 15th, there was short interest totalling 75,800 shares, a drop of 15.5% from the November 30th total of 89,700 shares. Currently, 0.7% of the shares of the company are sold short. Based on an average trading volume of 271,500 shares, the short-interest ratio is presently 0.3 days.

Hedge Funds Weigh In On SecureWorks

A number of large investors have recently added to or reduced their stakes in the stock. Royce & Associates LP raised its holdings in shares of SecureWorks by 2.5% during the third quarter. Royce & Associates LP now owns 1,324,543 shares of the technology company’s stock valued at $11,722,000 after acquiring an additional 32,929 shares during the last quarter. Scalar Gauge Management LLC raised its stake in SecureWorks by 16.4% in the 3rd quarter. Scalar Gauge Management LLC now owns 368,006 shares of the technology company’s stock valued at $3,257,000 after purchasing an additional 51,869 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in SecureWorks by 4.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 351,763 shares of the technology company’s stock valued at $2,462,000 after purchasing an additional 16,327 shares in the last quarter. Kovack Advisors Inc. boosted its stake in SecureWorks by 12.7% during the 3rd quarter. Kovack Advisors Inc. now owns 327,516 shares of the technology company’s stock worth $2,899,000 after purchasing an additional 36,816 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of SecureWorks by 22.3% during the second quarter. Renaissance Technologies LLC now owns 181,540 shares of the technology company’s stock worth $1,271,000 after buying an additional 33,100 shares in the last quarter. 14.38% of the stock is currently owned by institutional investors and hedge funds.

SecureWorks Stock Down 0.1 %

Shares of SCWX stock traded down $0.01 during trading hours on Friday, hitting $8.45. 50,385 shares of the company’s stock were exchanged, compared to its average volume of 102,416. The firm has a 50 day moving average of $8.41 and a two-hundred day moving average of $7.79. SecureWorks has a fifty-two week low of $5.61 and a fifty-two week high of $9.76. The firm has a market cap of $750.60 million, a P/E ratio of -8.54 and a beta of 1.00.

Analyst Ratings Changes

Several equities analysts recently issued reports on SCWX shares. Barclays boosted their target price on shares of SecureWorks from $6.00 to $7.00 and gave the company an “underweight” rating in a research note on Friday, September 6th. Needham & Company LLC reissued a “hold” rating on shares of SecureWorks in a research note on Tuesday, October 22nd. Finally, StockNews.com started coverage on SecureWorks in a research note on Thursday. They issued a “hold” rating for the company.

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.