SecureWorks (NASDAQ:SCWX) Shares Down 3.4% - Should You Sell?

SecureWorks Corp. (NASDAQ:SCWX - Get Free Report) was down 3.4% during mid-day trading on Wednesday . The stock traded as low as $7.85 and last traded at $7.85. Approximately 4,362 shares were traded during trading, a decline of 89% from the average daily volume of 41,384 shares. The stock had previously closed at $8.13.

Analyst Ratings Changes

A number of research firms recently issued reports on SCWX. Needham & Company LLC reissued a "hold" rating on shares of SecureWorks in a research note on Friday, September 6th. Barclays increased their target price on SecureWorks from $6.00 to $7.00 and gave the stock an "underweight" rating in a research report on Friday, September 6th.

SecureWorks Stock Performance

The stock has a market capitalization of $719.52 million, a PE ratio of -9.53 and a beta of 0.99. The stock's 50-day moving average price is $7.78 and its two-hundred day moving average price is $6.95.

SecureWorks (NASDAQ:SCWX - Get Free Report) last announced its earnings results on Thursday, September 5th. The technology company reported ($0.10) earnings per share for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.05). SecureWorks had a negative net margin of 21.23% and a negative return on equity of 4.94%. The business had revenue of $82.18 million for the quarter, compared to the consensus estimate of $80.98 million. On average, analysts predict that SecureWorks Corp. will post -0.25 earnings per share for the current fiscal year.

Hedge Funds Weigh In On SecureWorks

Hedge funds have recently bought and sold shares of the company. Kovack Advisors Inc. raised its holdings in SecureWorks by 55.4% in the 1st quarter. Kovack Advisors Inc. now owns 207,400 shares of the technology company's stock worth $1,394,000 after acquiring an additional 73,900 shares during the last quarter. Brooktree Capital Management lifted its holdings in shares of SecureWorks by 1.1% during the first quarter. Brooktree Capital Management now owns 163,910 shares of the technology company's stock valued at $1,101,000 after purchasing an additional 1,775 shares in the last quarter. First Eagle Investment Management LLC boosted its position in shares of SecureWorks by 1.5% during the first quarter. First Eagle Investment Management LLC now owns 891,728 shares of the technology company's stock valued at $5,992,000 after buying an additional 13,551 shares during the last quarter. Jaffetilchin Investment Partners LLC bought a new stake in SecureWorks in the 2nd quarter worth about $127,000. Finally, Oppenheimer Asset Management Inc. raised its position in 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 buying an additional 19,735 shares during the last quarter. Institutional investors own 14.38% of the company's stock.

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.