SecureWorks (NASDAQ:SCWX) Sees Large Volume Increase – What’s Next?

SecureWorks Corp. (NASDAQ:SCWX) saw unusually-strong trading volume on Tuesday . Approximately 55,235 shares were traded during trading, a decline of 46% from the previous session’s volume of 101,554 shares.The stock last traded at $8.48 and had previously closed at $8.46.

Analysts Set New Price Targets

SCWX has been the subject of a number of recent research reports. Needham & Company LLC restated a “hold” rating on shares of SecureWorks in a research report on Tuesday, October 22nd. StockNews.com started coverage on shares of SecureWorks in a research note on Wednesday. They issued a “hold” rating for the company. Finally, Barclays increased their target price on shares of SecureWorks from $6.00 to $7.00 and gave the company an “underweight” rating in a report on Friday, September 6th.

SecureWorks Stock Performance

The business has a 50 day moving average price of $8.37 and a two-hundred day moving average price of $7.68. The company has a market cap of $750.60 million, a P/E ratio of -8.54 and a beta of 1.00.

Institutional Investors Weigh In On SecureWorks

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SCWX. State Street Corp lifted its holdings in SecureWorks by 5.5% in the 3rd quarter. State Street Corp now owns 44,227 shares of the technology company’s stock worth $391,000 after buying an additional 2,300 shares during the period. FMR LLC raised its holdings in shares of SecureWorks by 22.3% during the third quarter. FMR LLC now owns 21,734 shares of the technology company’s stock valued at $192,000 after acquiring an additional 3,964 shares in the last quarter. Marshall Wace LLP lifted its stake in SecureWorks by 11.6% in the second quarter. Marshall Wace LLP now owns 49,997 shares of the technology company’s stock worth $350,000 after acquiring an additional 5,205 shares during the period. Atom Investors LP lifted its stake in SecureWorks by 14.6% in the third quarter. Atom Investors LP now owns 85,186 shares of the technology company’s stock worth $754,000 after acquiring an additional 10,823 shares during the period. Finally, Brooktree Capital Management boosted its holdings in SecureWorks by 9.9% in the third quarter. Brooktree Capital Management now owns 174,191 shares of the technology company’s stock valued at $1,542,000 after acquiring an additional 15,680 shares in the last quarter. 14.38% of the stock is currently owned by 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.