SecureWorks (NASDAQ:SCWX) Trading 6.3% Higher

Shares of SecureWorks Corp. (NASDAQ:SCWX) traded up 6.3% during trading on Friday . The company traded as high as $6.88 and last traded at $6.88. 21,978 shares traded hands during trading, a decline of 41% from the average session volume of 37,354 shares. The stock had previously closed at $6.47.

Wall Street Analyst Weigh In

Separately, Needham & Company LLC reaffirmed a “hold” rating on shares of SecureWorks in a research note on Thursday, June 6th.

SecureWorks Price Performance

The company has a fifty day moving average of $6.13 and a 200-day moving average of $6.45. The firm has a market cap of $618.80 million, a P/E ratio of -6.10 and a beta of 0.90.

SecureWorks (NASDAQ:SCWX) last announced its earnings results on Thursday, June 6th. The technology company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.06) by $0.01. SecureWorks had a negative net margin of 25.52% and a negative return on equity of 6.01%. The company had revenue of $85.65 million during the quarter, compared to the consensus estimate of $83.95 million. On average, sell-side analysts expect that SecureWorks Corp. will post -0.24 EPS for the current fiscal year.

Insider Transactions at SecureWorks

In other SecureWorks news, major shareholder Neil Gagnon purchased 13,798 shares of the company’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were acquired at an average cost of $5.99 per share, for a total transaction of $82,650.02. Following the completion of the acquisition, the insider now owns 610,947 shares of the company’s stock, valued at approximately $3,659,572.53. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 81.50% of the company’s stock.

Institutional Trading of SecureWorks

Large investors have recently added to or reduced their stakes in the stock. Scalar Gauge Management LLC bought a new position in shares of SecureWorks during the 4th quarter valued at approximately $1,816,000. Kovack Advisors Inc. grew its holdings in SecureWorks by 55.4% during the first quarter. Kovack Advisors Inc. now owns 207,400 shares of the technology company’s stock valued at $1,394,000 after purchasing an additional 73,900 shares during the period. First Eagle Investment Management LLC increased its position in SecureWorks by 4.2% in the fourth quarter. First Eagle Investment Management LLC now owns 878,177 shares of the technology company’s stock worth $6,481,000 after buying an additional 35,044 shares during the last quarter. Quadrature Capital Ltd raised its stake in shares of SecureWorks by 56.6% in the third quarter. Quadrature Capital Ltd now owns 25,377 shares of the technology company’s stock valued at $158,000 after buying an additional 9,175 shares during the period. Finally, Palogic Value Management L.P. lifted its position in shares of SecureWorks by 2.7% during the 4th quarter. Palogic Value Management L.P. now owns 243,000 shares of the technology company’s stock valued at $1,793,000 after buying an additional 6,497 shares during the last quarter. Hedge funds and other institutional investors 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.