SecureWorks (NASDAQ:SCWX) Sees Large Volume Increase - Here's What Happened

Shares of SecureWorks Corp. (NASDAQ:SCWX - Get Free Report) saw unusually-strong trading volume on Monday . Approximately 108,307 shares changed hands during trading, an increase of 61% from the previous session's volume of 67,234 shares.The stock last traded at $8.38 and had previously closed at $8.37.

Analyst Ratings Changes

A number of equities analysts have issued reports on SCWX shares. Needham & Company LLC restated a "hold" rating on shares of SecureWorks in a report on Tuesday, October 22nd. Barclays boosted their price target on SecureWorks from $6.00 to $7.00 and gave the stock an "underweight" rating in a research report on Friday, September 6th.

SecureWorks Trading Up 0.1 %

The business has a 50-day moving average price of $7.94 and a two-hundred day moving average price of $7.06. The stock has a market capitalization of $740.82 million, a P/E ratio of -7.92 and a beta of 0.99.

SecureWorks (NASDAQ:SCWX - Get Free Report) last announced its quarterly earnings data on Thursday, September 5th. The technology company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.05). SecureWorks had a negative return on equity of 4.94% and a negative net margin of 21.23%. The business had revenue of $82.18 million for the quarter, compared to the consensus estimate of $80.98 million. On average, sell-side analysts forecast that SecureWorks Corp. will post -0.29 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SecureWorks

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Squarepoint Ops LLC bought a new position in SecureWorks in the second quarter worth approximately $121,000. Jaffetilchin Investment Partners LLC purchased a new position in SecureWorks in the second quarter worth $127,000. Oppenheimer Asset Management Inc. raised its stake in shares of SecureWorks by 107.0% in the second quarter. Oppenheimer Asset Management Inc. now owns 38,180 shares of the technology company's stock valued at $267,000 after buying an additional 19,735 shares during the period. Marshall Wace LLP raised its stake in shares of SecureWorks by 11.6% in the second quarter. Marshall Wace LLP now owns 49,997 shares of the technology company's stock valued at $350,000 after buying an additional 5,205 shares during the period. Finally, King Luther Capital Management Corp bought a new stake in shares of SecureWorks in the second quarter valued at $411,000. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.