SecureWorks (NASDAQ:SCWX) Sees Unusually-High Trading Volume – What’s Next?

Shares of SecureWorks Corp. (NASDAQ:SCWX) saw unusually-strong trading volume on Tuesday . Approximately 565,770 shares changed hands during mid-day trading, an increase of 188% from the previous session’s volume of 196,739 shares.The stock last traded at $8.50 and had previously closed at $8.48.

Analysts Set New Price Targets

SCWX has been the topic of a number of analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of SecureWorks in a report on Tuesday, October 22nd. StockNews.com started coverage on shares of SecureWorks in a report on Monday. They issued a “hold” rating on the stock.

SecureWorks Price Performance

The company’s 50-day moving average is $8.44 and its two-hundred day moving average is $8.07. The company has a market capitalization of $754.17 million, a P/E ratio of -8.58 and a beta of 0.94.

SecureWorks (NASDAQ:SCWX) last issued its quarterly earnings results on Wednesday, December 4th. The technology company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.03). SecureWorks had a negative return on equity of 5.71% and a negative net margin of 25.49%. On average, sell-side analysts predict that SecureWorks Corp. will post -0.29 EPS for the current year.

Hedge Funds Weigh In On SecureWorks

Large investors have recently modified their holdings of the company. Dimensional Fund Advisors LP raised its stake in shares of SecureWorks by 4.9% during the second quarter. Dimensional Fund Advisors LP now owns 351,763 shares of the technology company’s stock worth $2,462,000 after acquiring an additional 16,327 shares in the last quarter. Renaissance Technologies LLC boosted its position in SecureWorks by 22.3% during the second quarter. Renaissance Technologies LLC now owns 181,540 shares of the technology company’s stock valued at $1,271,000 after buying an additional 33,100 shares during the period. Marshall Wace LLP grew its stake in shares of SecureWorks by 11.6% during the second quarter. Marshall Wace LLP now owns 49,997 shares of the technology company’s stock valued at $350,000 after buying an additional 5,205 shares during the last quarter. Squarepoint Ops LLC purchased a new position in shares of SecureWorks in the second quarter worth about $121,000. Finally, Inspire Investing LLC bought a new stake in shares of SecureWorks in the 3rd quarter valued at about $449,000. 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.