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

Shares of SecureWorks Corp. (NASDAQ:SCWX - Get Free Report) saw an uptick in trading volume on Tuesday . 565,770 shares traded hands during trading, an increase of 188% from the previous session's volume of 196,739 shares.The stock last traded at $8.50 and had previously closed at $8.48.

Analysts Set New Price Targets

Several research firms have weighed in on SCWX. Needham & Company LLC restated a "hold" rating on shares of SecureWorks in a research note on Tuesday, October 22nd. StockNews.com began coverage on SecureWorks in a research note on Monday, January 27th. They set a "hold" rating for the company.

SecureWorks Trading Up 0.2 %

The company has a market capitalization of $755.94 million, a P/E ratio of -8.60 and a beta of 0.94. The stock has a 50 day moving average price of $8.45 and a 200 day moving average price of $8.09.

SecureWorks (NASDAQ:SCWX - Get Free Report) last announced its quarterly earnings results on Wednesday, December 4th. The technology company reported ($0.13) EPS for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.03). SecureWorks had a negative net margin of 25.49% and a negative return on equity of 5.71%. On average, research analysts predict that SecureWorks Corp. will post -0.29 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of SCWX. Squarepoint Ops LLC bought a new position in SecureWorks during the 2nd quarter worth $121,000. Y.D. More Investments Ltd lifted its holdings in SecureWorks by 7.9% during the 4th quarter. Y.D. More Investments Ltd now owns 20,465 shares of the technology company's stock worth $173,000 after buying an additional 1,501 shares during the period. FMR LLC lifted its holdings in SecureWorks by 22.3% during the 3rd quarter. FMR LLC now owns 21,734 shares of the technology company's stock worth $192,000 after buying an additional 3,964 shares during the period. Empowered Funds LLC acquired a new position in SecureWorks during the 4th quarter worth about $317,000. Finally, Marshall Wace LLP lifted its holdings in SecureWorks by 11.6% during the 2nd quarter. Marshall Wace LLP now owns 49,997 shares of the technology company's stock worth $350,000 after buying an additional 5,205 shares during the period. 14.38% of the stock is currently owned by 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.