SecureWorks (NASDAQ:SCWX) Hits New 1-Year Low at $8.20

SecureWorks Corp. (NASDAQ:SCWXGet Rating) shares hit a new 52-week low on Wednesday . The company traded as low as $8.20 and last traded at $8.31, with a volume of 80382 shares changing hands. The stock had previously closed at $8.34.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Barclays dropped their target price on SecureWorks from $13.00 to $11.00 in a report on Friday, September 2nd. Morgan Stanley dropped their price objective on SecureWorks from $13.00 to $12.00 and set an “equal weight” rating on the stock in a report on Tuesday, September 6th. Two investment analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $14.00.

SecureWorks Stock Up 0.1 %

The stock has a market cap of $707.80 million, a P/E ratio of -10.28 and a beta of 0.86. The business has a 50-day simple moving average of $10.02 and a 200-day simple moving average of $11.06.

SecureWorks (NASDAQ:SCWXGet Rating) last announced its earnings results on Thursday, September 1st. The technology company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.03. The firm had revenue of $116.20 million during the quarter, compared to analysts’ expectations of $116.10 million. SecureWorks had a negative return on equity of 6.81% and a negative net margin of 13.62%. The company’s revenue was down 13.4% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.06) earnings per share. On average, analysts predict that SecureWorks Corp. will post -1.05 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other SecureWorks news, major shareholder Neil Gagnon acquired 18,274 shares of SecureWorks stock in a transaction dated Monday, June 27th. The stock was bought at an average cost of $11.32 per share, with a total value of $206,861.68. Following the completion of the transaction, the insider now owns 94,276 shares of the company’s stock, valued at $1,067,204.32. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders purchased 50,170 shares of company stock valued at $557,342 over the last 90 days. 85.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On SecureWorks

Several hedge funds have recently modified their holdings of the business. Gagnon Securities LLC boosted its position in shares of SecureWorks by 25.5% in the second quarter. Gagnon Securities LLC now owns 1,033,446 shares of the technology company’s stock valued at $11,223,000 after acquiring an additional 209,770 shares during the period. Cove Street Capital LLC lifted its position in SecureWorks by 20.3% in the first quarter. Cove Street Capital LLC now owns 772,418 shares of the technology company’s stock worth $10,235,000 after purchasing an additional 130,114 shares during the period. Royce & Associates LP lifted its position in SecureWorks by 3.8% in the second quarter. Royce & Associates LP now owns 686,420 shares of the technology company’s stock worth $7,455,000 after purchasing an additional 25,440 shares during the period. Gagnon Advisors LLC lifted its position in SecureWorks by 26.1% in the second quarter. Gagnon Advisors LLC now owns 590,730 shares of the technology company’s stock worth $6,415,000 after purchasing an additional 122,131 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in SecureWorks by 57.0% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 353,021 shares of the technology company’s stock worth $3,834,000 after purchasing an additional 128,222 shares during the period. 10.73% of the stock is owned by institutional investors.

About SecureWorks

(Get Rating)

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 security risk consulting services.

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