SecureWorks (NASDAQ:SCWX) Sees Large Volume Increase - Time to Buy?

SecureWorks Corp. (NASDAQ:SCWX - Get Free Report) shares saw unusually-high trading volume on Monday . Approximately 185,879 shares were traded during mid-day 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.

Wall Street Analysts Forecast Growth

SCWX has been the topic of a number of research reports. Barclays raised their price target on shares of SecureWorks from $6.00 to $7.00 and gave the company an "underweight" rating in a research note on Friday, September 6th. Needham & Company LLC restated a "hold" rating on shares of SecureWorks in a research report on Friday, September 6th.

SecureWorks Stock Down 1.3 %

The company has a market cap of $742.62 million, a PE ratio of -9.84 and a beta of 0.99. The stock has a 50-day simple moving average of $7.86 and a 200 day simple moving average of $7.00.

SecureWorks (NASDAQ:SCWX - Get Free Report) last released its quarterly earnings results 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 company had revenue of $82.18 million during the quarter, compared to analysts' expectations of $80.98 million. SecureWorks had a negative net margin of 21.23% and a negative return on equity of 4.94%. As a group, research analysts anticipate that SecureWorks Corp. will post -0.25 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. First Eagle Investment Management LLC raised its holdings in SecureWorks by 1.5% in 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 acquiring an additional 13,551 shares in the last quarter. Dimensional Fund Advisors LP increased 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. Scalar Gauge Management LLC raised its position in shares of SecureWorks by 18.8% during the 2nd quarter. Scalar Gauge Management LLC now owns 316,137 shares of the technology company's stock worth $2,213,000 after acquiring an additional 50,000 shares in the last quarter. Kovack Advisors Inc. lifted its stake in SecureWorks by 55.4% during the first quarter. Kovack Advisors Inc. now owns 207,400 shares of the technology company's stock worth $1,394,000 after purchasing an additional 73,900 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in SecureWorks by 22.3% in the second quarter. Renaissance Technologies LLC now owns 181,540 shares of the technology company's stock valued at $1,271,000 after purchasing an additional 33,100 shares in the last quarter. Institutional investors and hedge funds 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.