SecureWorks Corp. (NASDAQ:SCWX) Short Interest Update

SecureWorks Corp. (NASDAQ:SCWX) was the target of a large decline in short interest in October. As of October 31st, there was short interest totalling 83,200 shares, a decline of 33.4% from the October 15th total of 124,900 shares. Currently, 0.8% of the shares of the company are sold short. Based on an average daily trading volume, of 165,000 shares, the short-interest ratio is presently 0.5 days.

Analyst Upgrades and Downgrades

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

Institutional Trading of SecureWorks

A number of large investors have recently modified their holdings of the business. Royce & Associates LP increased its position in shares of SecureWorks by 2.5% in 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 last quarter. First Eagle Investment Management LLC increased its holdings in shares of SecureWorks by 1.5% in the 1st quarter. First Eagle Investment Management LLC now owns 891,728 shares of the technology company’s stock worth $5,992,000 after buying an additional 13,551 shares during the last quarter. Scalar Gauge Management LLC increased its holdings in shares of SecureWorks by 16.4% in the 3rd quarter. Scalar Gauge Management LLC now owns 368,006 shares of the technology company’s stock worth $3,257,000 after buying an additional 51,869 shares during the last quarter. Dimensional Fund Advisors LP raised 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 in the last quarter. Finally, Kovack Advisors Inc. lifted its holdings in shares of 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 acquiring an additional 36,816 shares during the last quarter. Institutional investors own 14.38% of the company’s stock.

SecureWorks Price Performance

NASDAQ SCWX remained flat at $8.37 on Friday. 121,363 shares of the company’s stock traded hands, compared to its average volume of 76,235. The business has a 50-day moving average of $8.14 and a 200-day moving average of $7.30. SecureWorks has a fifty-two week low of $5.61 and a fifty-two week high of $9.76. The company has a market capitalization of $743.51 million, a P/E ratio of -9.85 and a beta of 1.00.

SecureWorks (NASDAQ:SCWX) last issued its quarterly earnings data on Thursday, September 5th. The technology company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.05). The business had revenue of $82.18 million during the quarter, compared to analysts’ expectations of $80.98 million. SecureWorks had a negative return on equity of 4.94% and a negative net margin of 21.23%. Equities research analysts expect that SecureWorks will post -0.29 EPS for the current year.

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.