SecureWorks (NASDAQ:SCWX) Sees Unusually-High Trading Volume – Time to Buy?

SecureWorks Corp. (NASDAQ:SCWX) shares saw unusually-strong trading volume on Friday . Approximately 142,907 shares traded hands during trading, a decline of 14% from the previous session’s volume of 166,466 shares.The stock last traded at $8.44 and had previously closed at $8.44.

Analysts Set New Price Targets

Several analysts recently issued reports on SCWX shares. Barclays upped their target price on shares of SecureWorks from $6.00 to $7.00 and gave the company an “underweight” rating in a research report on Friday, September 6th. StockNews.com started coverage on shares of SecureWorks in a report on Friday. They issued a “hold” rating on the stock. Finally, Needham & Company LLC reiterated a “hold” rating on shares of SecureWorks in a report on Tuesday, October 22nd.

SecureWorks Stock Performance

The company has a market capitalization of $750.60 million, a price-to-earnings ratio of -8.54 and a beta of 1.00. The firm has a 50-day simple moving average of $8.42 and a two-hundred day simple moving average of $7.84.

Hedge Funds Weigh In On SecureWorks

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Royce & Associates LP raised its stake in shares of SecureWorks by 2.5% in the third quarter. Royce & Associates LP now owns 1,324,543 shares of the technology company’s stock valued at $11,722,000 after acquiring an additional 32,929 shares in the last quarter. Scalar Gauge Management LLC raised its position in SecureWorks by 16.4% in the 3rd quarter. Scalar Gauge Management LLC now owns 368,006 shares of the technology company’s stock valued at $3,257,000 after purchasing an additional 51,869 shares in the last quarter. Dimensional Fund Advisors LP raised its position in SecureWorks by 4.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 351,763 shares of the technology company’s stock valued at $2,462,000 after purchasing an additional 16,327 shares in the last quarter. Kovack Advisors Inc. grew its position in shares of SecureWorks by 12.7% during the third quarter. Kovack Advisors Inc. now owns 327,516 shares of the technology company’s stock worth $2,899,000 after buying an additional 36,816 shares in the last quarter. Finally, Renaissance Technologies LLC grew its position in shares of SecureWorks by 22.3% during the second quarter. Renaissance Technologies LLC now owns 181,540 shares of the technology company’s stock worth $1,271,000 after buying an additional 33,100 shares in the last quarter. Hedge funds and other institutional investors own 14.38% of the company’s stock.

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.