SecureWorks Corp. (NASDAQ:SCWX) Short Interest Up 53.8% in December

SecureWorks Corp. (NASDAQ:SCWX) was the target of a significant growth in short interest in December. As of December 31st, there was short interest totalling 116,600 shares, a growth of 53.8% from the December 15th total of 75,800 shares. Currently, 1.1% of the company’s stock are sold short. Based on an average daily trading volume, of 288,500 shares, the days-to-cover ratio is presently 0.4 days.

SecureWorks Stock Up 0.1 %

Shares of SCWX traded up $0.01 during mid-day trading on Friday, hitting $8.45. The stock had a trading volume of 137,001 shares, compared to its average volume of 197,518. 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 $750.61 million, a PE ratio of -8.54 and a beta of 0.94. The company’s fifty day simple moving average is $8.43 and its two-hundred day simple moving average is $8.00.

Analysts Set New Price Targets

Several research firms recently issued reports on SCWX. StockNews.com began coverage on shares of SecureWorks in a report on Saturday, January 11th. They issued a “hold” rating on the stock. Needham & Company LLC restated a “hold” rating on shares of SecureWorks in a research note on Tuesday, October 22nd.

Hedge Funds Weigh In On SecureWorks

A number of hedge funds have recently added to or reduced their stakes in SCWX. 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 worth $11,722,000 after purchasing an additional 32,929 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 valued at $3,257,000 after buying an additional 51,869 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of SecureWorks by 4.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 351,763 shares of the technology company’s stock valued at $2,462,000 after buying an additional 16,327 shares during the last quarter. Kovack Advisors Inc. raised its stake in SecureWorks by 12.7% during the third quarter. Kovack Advisors Inc. now owns 327,516 shares of the technology company’s stock worth $2,899,000 after acquiring an additional 36,816 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in SecureWorks by 22.3% in the second quarter. Renaissance Technologies LLC now owns 181,540 shares of the technology company’s stock worth $1,271,000 after acquiring an additional 33,100 shares during the last quarter. Institutional investors and hedge funds own 14.38% of the company’s stock.

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.