Short Interest in SecureWorks Corp. (NASDAQ:SCWX) Rises By 53.8%

SecureWorks Corp. (NASDAQ:SCWX) was the recipient of a significant increase in short interest during the month of December. As of December 31st, there was short interest totalling 116,600 shares, an increase of 53.8% from the December 15th total of 75,800 shares. Approximately 1.1% of the company’s stock are sold short. Based on an average trading volume of 288,500 shares, the short-interest ratio is currently 0.4 days.

Analysts Set New Price Targets

SCWX has been the topic of a number of analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of SecureWorks in a research note on Tuesday, October 22nd. StockNews.com started coverage on shares of SecureWorks in a research note on Saturday, January 11th. They issued a “hold” rating on the stock.

SecureWorks Trading Up 0.1 %

NASDAQ:SCWX traded up $0.01 during mid-day trading on Friday, reaching $8.45. The company’s stock had a trading volume of 137,001 shares, compared to its average volume of 197,408. The firm’s fifty day moving average price is $8.43 and its two-hundred day moving average price is $7.99. The stock has a market cap of $750.61 million, a P/E ratio of -8.54 and a beta of 0.94. SecureWorks has a 12-month low of $5.61 and a 12-month high of $9.76.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in SCWX. Squarepoint Ops LLC bought a new stake in SecureWorks in the 2nd quarter worth approximately $121,000. FMR LLC lifted its holdings in shares of SecureWorks by 22.3% during the 3rd quarter. FMR LLC now owns 21,734 shares of the technology company’s stock valued at $192,000 after buying an additional 3,964 shares during the period. Oppenheimer Asset Management Inc. boosted its stake in shares of SecureWorks by 107.0% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 38,180 shares of the technology company’s stock worth $267,000 after buying an additional 19,735 shares during the last quarter. Marshall Wace LLP grew its holdings in shares of SecureWorks by 11.6% in the second quarter. Marshall Wace LLP now owns 49,997 shares of the technology company’s stock worth $350,000 after acquiring an additional 5,205 shares during the period. Finally, State Street Corp increased its position in SecureWorks by 5.5% during the third quarter. State Street Corp now owns 44,227 shares of the technology company’s stock valued at $391,000 after acquiring an additional 2,300 shares during the last quarter. 14.38% of the stock is owned by hedge funds and other institutional investors.

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.