SecureWorks Corp. (NASDAQ:SCWX) Sees Significant Decline in Short Interest

SecureWorks Corp. (NASDAQ:SCWX - Get Free Report) was the recipient of a significant decrease in short interest in the month of December. As of December 15th, there was short interest totalling 75,800 shares, a decrease of 15.5% from the November 30th total of 89,700 shares. Currently, 0.7% of the company's shares are sold short. Based on an average daily trading volume, of 271,500 shares, the days-to-cover ratio is currently 0.3 days.

SecureWorks Trading Down 0.1 %

Shares of SecureWorks stock traded down $0.01 on Friday, hitting $8.45. 50,385 shares of the company traded hands, compared to its average volume of 102,416. The company has a market cap of $750.60 million, a PE ratio of -8.54 and a beta of 1.00. The stock's 50 day moving average price is $8.41 and its 200-day moving average price is $7.80. SecureWorks has a 52 week low of $5.61 and a 52 week high of $9.76.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Jaffetilchin Investment Partners LLC bought a new position in shares of SecureWorks during the 2nd quarter worth $127,000. Oppenheimer Asset Management Inc. lifted its stake in SecureWorks by 107.0% in the second quarter. Oppenheimer Asset Management Inc. now owns 38,180 shares of the technology company's stock worth $267,000 after acquiring an additional 19,735 shares during the period. Dimensional Fund Advisors LP lifted its stake in SecureWorks by 4.9% in the second quarter. Dimensional Fund Advisors LP now owns 351,763 shares of the technology company's stock worth $2,462,000 after acquiring an additional 16,327 shares during the period. Renaissance Technologies LLC grew its holdings in SecureWorks by 22.3% during the 2nd quarter. Renaissance Technologies LLC now owns 181,540 shares of the technology company's stock worth $1,271,000 after acquiring an additional 33,100 shares in the last quarter. Finally, King Luther Capital Management Corp purchased a new position in SecureWorks during the 2nd quarter valued at about $411,000. 14.38% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on SCWX shares. Barclays boosted their price objective on SecureWorks from $6.00 to $7.00 and gave the company an "underweight" rating in a report on Friday, September 6th. StockNews.com began coverage on shares of SecureWorks in a research note on Thursday. They set a "hold" rating for the company. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of SecureWorks in a research note on Tuesday, October 22nd.

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.