SecureWorks Corp. (NASDAQ:SCWX) Short Interest Update

SecureWorks Corp. (NASDAQ:SCWX) was the recipient of a large drop in short interest in October. As of October 31st, there was short interest totalling 83,200 shares, a drop of 33.4% from the October 15th total of 124,900 shares. Currently, 0.8% of the shares of the company are short sold. Based on an average daily trading volume, of 165,000 shares, the days-to-cover ratio is presently 0.5 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. King Luther Capital Management Corp bought a new stake in shares of SecureWorks during the 2nd quarter valued at $411,000. Gladius Capital Management LP purchased a new position in SecureWorks during the 3rd quarter valued at about $463,000. Scalar Gauge Management LLC increased its position in shares of SecureWorks by 16.4% during the third quarter. Scalar Gauge Management LLC now owns 368,006 shares of the technology company’s stock valued at $3,257,000 after buying an additional 51,869 shares during the period. Inspire Investing LLC purchased a new stake in shares of SecureWorks in the third quarter worth about $449,000. Finally, Brown Brothers Harriman & Co. bought a new position in shares of SecureWorks in the third quarter valued at approximately $442,000. Institutional investors own 14.38% of the company’s stock.

Analysts Set New Price Targets

SCWX has been the subject of several recent analyst reports. Barclays upped their target price on SecureWorks from $6.00 to $7.00 and gave the company an “underweight” rating in a report on Friday, September 6th. StockNews.com initiated coverage on SecureWorks in a research note on Saturday. They issued a “hold” rating for the company. Finally, Needham & Company LLC reiterated a “hold” rating on shares of SecureWorks in a research note on Tuesday, October 22nd.

SecureWorks Price Performance

Shares of SecureWorks stock remained flat at $8.37 on Friday. 121,363 shares of the stock were exchanged, compared to its average volume of 76,235. The business has a 50 day moving average of $8.14 and a 200 day moving average of $7.30. SecureWorks has a 1 year low of $5.61 and a 1 year high of $9.76. The stock has a market cap of $743.51 million, a price-to-earnings ratio of -9.85 and a beta of 1.00.

SecureWorks (NASDAQ:SCWX) last posted its quarterly earnings data on Thursday, September 5th. The technology company reported ($0.10) EPS for the quarter, missing the consensus estimate 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 firm had revenue of $82.18 million during the quarter, compared to analysts’ expectations of $80.98 million. Equities research analysts predict that SecureWorks will post -0.29 EPS for the current year.

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.