BidaskClub Downgrades SecureWorks (SCWX) to Strong Sell
SecureWorks (NASDAQ:SCWX) was downgraded by equities research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a note issued to investors on Thursday.
SCWX has been the topic of a number of other reports. Zacks Investment Research raised shares of SecureWorks from a “sell” rating to a “hold” rating in a research report on Wednesday, November 8th. KeyCorp reaffirmed a “buy” rating and issued a $15.00 target price on shares of SecureWorks in a research report on Sunday, November 19th. Royal Bank Of Canada reaffirmed a “buy” rating on shares of SecureWorks in a research report on Tuesday, November 7th. J P Morgan Chase & Co reaffirmed a “buy” rating on shares of SecureWorks in a research report on Thursday, October 12th. Finally, Citigroup reaffirmed a “neutral” rating and issued a $11.00 target price (up from $10.00) on shares of SecureWorks in a research report on Thursday, September 7th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $13.30.
Shares of SecureWorks (NASDAQ SCWX) traded down $0.77 during trading hours on Thursday, hitting $8.27. 310,489 shares of the company’s stock were exchanged, compared to its average volume of 102,592. SecureWorks has a 52 week low of $8.10 and a 52 week high of $12.99.
Large investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. acquired a new stake in SecureWorks during the 1st quarter worth $147,000. Bank of America Corp DE boosted its stake in SecureWorks by 128.7% during the 1st quarter. Bank of America Corp DE now owns 103,914 shares of the technology company’s stock worth $987,000 after purchasing an additional 58,478 shares during the period. Vanguard Group Inc. boosted its stake in SecureWorks by 9.6% during the 1st quarter. Vanguard Group Inc. now owns 783,848 shares of the technology company’s stock worth $7,447,000 after purchasing an additional 68,479 shares during the period. Bank of New York Mellon Corp boosted its stake in SecureWorks by 46.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 30,853 shares of the technology company’s stock worth $286,000 after purchasing an additional 9,755 shares during the period. Finally, Cambridge Investment Research Advisors Inc. acquired a new stake in SecureWorks during the 2nd quarter worth $225,000. Hedge funds and other institutional investors own 7.96% of the company’s stock.
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Secureworks Corp. is a holding company. The Company provides intelligence-driven information security solutions. The Company is focused on protecting the Company’s clients from cyber-attacks. The Company’s solutions enable companies to fortify their cyber defenses to prevent security breaches, detect malicious activity in real time, prioritize and respond to security incidents, and predict emerging threats.
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