SecureWorks (NASDAQ:SCWX) Sees Unusually-High Trading Volume – Should You Buy?

SecureWorks Corp. (NASDAQ:SCWX) saw unusually-high trading volume on Monday . Approximately 185,879 shares were traded during trading, an increase of 342% from the previous session’s volume of 42,030 shares.The stock last traded at $8.39 and had previously closed at $8.47.

Analyst Upgrades and Downgrades

SCWX has been the subject of several research analyst reports. Barclays increased their price objective on SecureWorks from $6.00 to $7.00 and gave the stock an “underweight” rating in a report on Friday, September 6th. Needham & Company LLC reiterated a “hold” rating on shares of SecureWorks in a report on Tuesday.

SecureWorks Stock Up 0.5 %

The company’s fifty day simple moving average is $7.89 and its 200 day simple moving average is $7.01. The firm has a market capitalization of $746.17 million, a PE ratio of -9.88 and a beta of 0.99.

SecureWorks (NASDAQ:SCWX) last announced its earnings results on Thursday, September 5th. The technology company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.05). The firm had revenue of $82.18 million during the quarter, compared to the consensus estimate 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 forecast that SecureWorks Corp. will post -0.25 EPS for the current year.

Institutional Trading of SecureWorks

A number of hedge funds and other institutional investors have recently modified their holdings of SCWX. Squarepoint Ops LLC purchased a new stake in shares of SecureWorks in the 2nd quarter worth approximately $121,000. Jaffetilchin Investment Partners LLC bought a new position in shares of SecureWorks during the second quarter valued at $127,000. Oppenheimer Asset Management Inc. raised its position 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 worth $267,000 after purchasing an additional 19,735 shares during the last quarter. Marshall Wace LLP boosted its stake in SecureWorks by 11.6% in the 2nd quarter. Marshall Wace LLP now owns 49,997 shares of the technology company’s stock worth $350,000 after purchasing an additional 5,205 shares in the last quarter. Finally, King Luther Capital Management Corp purchased a new stake in SecureWorks during the 2nd quarter valued at about $411,000. 14.38% of the stock is owned by hedge funds and other institutional investors.

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.