SecureWorks Corp. (NASDAQ:SCWX) Short Interest Update

SecureWorks Corp. (NASDAQ:SCWX) was the target of a significant decrease in short interest during the month of December. As of December 15th, there was short interest totalling 75,800 shares, a decrease of 15.5% from the November 30th total of 89,700 shares. Approximately 0.7% of the company’s stock are sold short. Based on an average daily trading volume, of 271,500 shares, the days-to-cover ratio is currently 0.3 days.

Hedge Funds Weigh In On SecureWorks

Several hedge funds have recently made changes to their positions in SCWX. Jaffetilchin Investment Partners LLC purchased a new stake in SecureWorks in the second quarter valued at approximately $127,000. Oppenheimer Asset Management Inc. boosted its holdings in shares of SecureWorks by 107.0% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 38,180 shares of the technology company’s stock valued at $267,000 after acquiring an additional 19,735 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of 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 acquiring an additional 16,327 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of 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 period. Finally, King Luther Capital Management Corp purchased a new position in shares of SecureWorks during the second quarter worth $411,000. 14.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

SecureWorks Price Performance

NASDAQ:SCWX traded down $0.01 during trading hours on Friday, hitting $8.45. 50,385 shares of the company were exchanged, compared to its average volume of 102,416. The company’s 50 day moving average price is $8.41 and its 200-day moving average price is $7.79. The stock has a market capitalization of $750.60 million, a price-to-earnings ratio of -8.54 and a beta of 1.00. SecureWorks has a 52-week low of $5.61 and a 52-week high of $9.76.

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.